Anyone can live anywhere they want if they have the money, and sometimes houses are bought and then rented out without much background checking on the people moving in.

. #3 - Have finances in order (i.e) is this going to be bought through conventional, cash, HML, etc.

The first multi that I ever bought was also 3 units and had 2 electric meters and 2 furnaces. 

Gangbangers hanging out on corners and loitering 24/7 infront of stores.

One broken window, one missed month of rent, one eviction, one stolen refirgerator and so on, and all you've bought is a headache.

I'm in the same boat for reference- I bought into the "buy now, refi later" idea and am sitting on a 7.375% on my latest property acquisition and a commercial line of credit I have is at prime + 1 (so 8.5%).

You should do a deep dive on what your goals are and why you bought a rental in the first place.

Hi Kelly,I am currently with Equity Trust not by choice since they bought out Midland Trust last year (2023).

Purchase price: $341,000 Cash invested: $136,000 Sale price: $519,000 A house that I bought, renovated, and sold.

I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.