Leverage: Use leverage wisely to acquire more properties while maintaining a healthy debt-to-equity ratio.3.

Rather than getting a wholesale fee or commission, the student got his name on the deal with no debt.

Lenders usually determine whether properties are lendable based on the debt service coverage ratio. 

I would suggest taking the route of option 2 or 3, so not only are you saving over 10k in rent per year but the residents help in paying down the debt.

I make around $110k+ per year, live off around $75K, have a mortgage ($1900/mo for rent, escrow, tax), around $40K in equity, and no other debt. 

You are like many others who are getting started and unfortunately your generation is screwed because of the amount of spending is older generations have done and put the debt on you which also has led to record inflation.All you can do now is plan for the future and don’t force things but invest wisely when the time is right.

For example: Fannie Mae backs 25% of all single-family mortgage loans, including 1.4 million in 2024 alone and 21% of outstanding multifamily apartment mortgage debt (Fannie).

Early 2017 investment, assumable, high 3s fixed-rate debt with a 5-7 year expected hold period.

If it is a class C office building with 10% occupancy that is very different than a Class A MF which is still very different than a debt fund with zero leverage.As mentioned risk and return go together  - greater risk should have greater upside

ARV - Profit - Repair Cost -Reserve Cost- Cost of Debt- Fees = "Strike Price"Thank you for the insight.