this works well if the tenant is a national user or multi unit operator who has built these buildings many times. 

However, looks like there is a harsh line as far as what locals can afford and if you go over that, vacancy is high.Watertown, NY- I’ve seen many great multi-family properties in the low to mid 100s.

Purchase price: $100,000 Cash invested: $35,000 Sale price: $270,000 Hey BiggerPockets Community,I recently updated a multi-family property on a tight budget and significantly increased its value.

What type of property do you plan to purchase(Single, multi, commercial, etc) and where do you plan to buy it?

There are tons of filters you can use including out of town owners, single family, multi fam, equity percentage…etc. https://www.melissa.com

It’s also worth considering a multi-family property for your first deal since it can help with cash flow.

We offer a unique, tailored experience, providing actionable strategies that are relevant to your specific goals, whether you're just starting out or already managing a multi-million dollar portfolio.

A self-directed IRA or 401k can be a great vehicle for loaning money to others without getting hit with taxes on the interest income.

This will be my first home purchase, and I am aiming to invest in multi-family properties.What should I be aware of when purchasing a multi-family property?

I do know some people suggest having multi checking accounts for long rental properties.