Hi everyone,
I’m new to real estate investing and I’m considering getting into long-term multifamily rentals. One thing I’m trying to figure out is how to find good locations where property prices are relatively low,...

@Tim Holt, Yes INDEED house hacking is the best option for most 1st time buyers.  

Since you have flexibility with locations, you have your pick of cities that are growing, but also affordable.

On the RE side - I own/developed 2,000 residential units across the United States focusing on opportunistic residential acquisitions and development, including student housing conversions and luxury multifamily development.On the startup side - it is a third-party guarantor platform that expands your renter pool, increases rents and occupancy, and ultimately boosts your NOI while broadening affordable housing options for renters.

My favorite was a hoarder house full of trash that took me six months to turn around, but it turned into a killer deal that earned me a 600% return.

I see a few abandoned nursing home type places in rural areas, and always think as I drive by, would a good repurpose of them being senior living, or veteran living, or just plain affordable housing living? 

Property TypeUnderstand the different types of multifamily properties:High-Rise: 9+ floors with an elevator, often urban.Mid-Rise: Smaller than high-rise, usually with elevators.Garden-Style: Low-rise apartments in suburban or rural settings.Walk-Up: 4–6 stories without elevators.Manufactured Housing Communities: Mobile home parks where land is leased to homeowners.Special-Purpose Housing:Student Housing: Designed for college students.Senior Housing: Dedicated to older adults.Subsidized Housing: Affordable housing supported by rent and income restrictions.3.

These areas are experiencing significant development and population growth, driven by families and professionals seeking more affordable housing while staying close to the job hubs in Plano, Frisco, and even parts of North Dallas.

It's Detroit, not Los Angeles, just buy another house.

You can also start exploring a house hack to utilize the lower DP