This one was in my neighborhood and the timing was right!

Not sure your basement is illegal, maybe un-permitted ;-) House is in Chicago neighborhood.

@Lillian Pintaro,Birmingham’s a lucrative market—it’s been my stomping ground for nearly 20 years, and you can find some excellent deals if you know what you’re after and dive deep by zip code, neighborhood, and city block.For what it’s worth, we manage 2,000+ units (many for out-of-state investors) mostly in the north and west part of town—so think suburbs outside the city limits like Graysville (35073), Adamsville (35005), Mount Olive (35117), Center Point (35215), and the like.Since you’re also open to the surrounding areas, places like Odenville (to the east) and Tuscaloosa (to the southwest) could be worth checking out.

However, the budget and surrounding neighborhood fit my box.

My 5 year old started Elementary in our neighborhood.

The BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) could also be a great strategy to recycle your capital.To find deals, try direct mail campaigns targeting absentee owners or distressed properties, or go driving for dollars in neighborhoods with strong rental potential.

It's all about the neighborhoods you are investing in.

Purchase price: $190,000 Cash invested: $34,000 Triplex, ranch style.

Still researching and taking a trip out there to drive the neighborhoods.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.