It depends on where you want to live, income, personality, and other factors.You could buy a large home and rent out the individual rooms to cover expenses, but this comes with problems.

If you're financially stable, have an emergency fund, and have a buy [box] get into the trending C class neighborhoods and buy value.

@Jeffery Jones you understand you'll be buying Class C & D properties, not in the best of areas?

Don't buy those types of homes, they will take a long time and not sell for what you were thinking it would sell for! 

In 2025 does it make sense to build a 4plex and house hack it or is it better to buy existing multi-family? 

As far as their relation with the PM goes, the PM is the agent they used when buying the said rental, agent is local to Indianapolis, as for any form of PM agreement I do not know, it may be verbal, or they have a written agreement.Thanks in advance. 

@Zach Howard some copy & paste advice below:)-------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I have something I will buy regardless of others’ buy-in, but the way I see it working is I get it under contract, present my plan to a couple others who are interested and more experienced, they agree to partner and we complete the purchase together.

For example, here in NE PA, you can buy a 4/2 on a lake for under $500K while in CA, $500K will get you a starter home in most cases. 

You can always do a rate buy down to get a lower rate but you will not have to pay "lender points".