In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.

For scaling your portfolio, consider house hacking another multi-family property to minimize living expenses while building equity.

I work on a ton of Padsplits in the Atlanta market and it is tough for a 4 bed co-living property to be much more profitable than a long term tenant factoring in additional utility expesnes, padsplit fees, and additional property management expenses.

@Chris HainsI use the House Flipping Spreadsheet (https://www.houseflippingspreadsheet.com/) to do the planning, analysis and estimating prior to purchase. 

Quote from @Treza Edwards: What expenses are included in determining cash flow?

This is the BEST $100 you will ever spend, and if you listen to Amanda Han's tax book, you'll know it's also likely a business expense for you to write off :) https://biggerpockets.supercast.com/My perfect way to learn from the BP books is to listen to the audio book through the subscription above, then books that really stand out to me I go old school and get the physical copy so that I can re-read it, take notes in the margins, and put post it notes so key points are easier for me to re-reference in the future.

I used one frequently discussed in BP, TERRIBLE AND EXPENSIVE.

They are exceedingly rare, thus very expensive, but I believe they represent an excellent long term steady income and store of value.  

CT isn't cheap so if you plan on doing it there you are going to surprised at how poorly you do. maybe in the suburbs I'm not sure but as much as I know people call us from CT and everyone is rich and has lots of money and things are expensive out there. build to rent is a great model. we build 3 story walk up infill and keep it to the residential side. 3 units is the most units before it's commercial and you need engineering, etc. check comparable and things liek that. we came up with this design a year ago and we sold 10 if you want to talk further please DM me happy to connect. there are some great build to rent conferences. we went vertical not horizontal with it to save on build costs and design to fit on any infill lot. this fits on a 3500 square foot lot. most lots in our area are 30x120 or 30x150. in miami where I live now they are 50x100 or so. but any infill lot we can pretty much get this one on. there are some great build to rent conferences coming up too that if you like this topic I'd recommend attending I'm sure you'd learn a lot.  

They seemed good, and looks like they have prior experience managing the building I’m buying (based off the leases that were submitted to me) but way to expensive to what I’m use to … $137 - $184 per door (over 10%) and then $750 per door for the maintenance reserve.