Quote from @Evan Haas: I'm focusing on 2-4 MF properties, but if the numbers worked for 5+ when I'm open to that too, I just am assuming I don't have the capital yet to go in that direction. 

It's like the 70% rule, you can use it to narrow down 100 deals to 30 deals to dive deeper, but you need to know estimates per house..

For example, I saw a good deal that needed work.

I’m about to tell you about a deal that could have easily fallen apart, but instead turned into a $200k profit after a lengthy eviction process.

Its hard to find deals unless you are connected, advertise a lot, cold call a lot, knock a lot, and/or work very hard at it. 

I had a good relationship with the listing agent and was able to structure a below value deal (beating out iBuyers and other investor offers).

What made you interested in investing in this type of deal?

Her last deal she had a claim on the HVAC was leaking.

I would also add, a contractor that you can buy materials for and they know how to put them in with little to know direction (reduces the management time of the project).

You would then have two loans, one on your home and one on the refi to access the equity on the investment home.Why not just use the refi cash out from your home loan for future deals?