I’d start with a smaller deal - buy a 6 to 12 unit say - raise money from your social and professional sphere - people who know you - who you have a beer with etc.

We also have interest from some new car companies that are looking at the facilities in Windsor for re-purposing to use for EV manufacturing.

Hello,Im working with a lender to refinance into a Fanny Freddy mortgage now that I have stabilized my 36 unit complex.They have asked for a CAPEX schedule, and a T-6, in addition to the rent roll. 

If you are investing out of state, then do you already have a good property manager lined up? 

These are professionals with additional training and a stricter code of ethics.

You picked a great community to join.. have you checked out local comps to gauge the market vibe yet?

@Makani Donaldson it all depends on your investment goals.If you buy a Class A rental, it'll usually have negative cashflow, which will be hopefully offset with appreciation and better tenants.If you buy a CLass C or D rental, it should have pretty good cashflow because you may not realize much in appreciation and you'll have a lot more problems finding good tenants.

This vary heavily town to town. 20% down is great if buying strictly as investment but if you have a way of owner occupying I would explore that route and apply the 20% down to increasing value of property and instead using low money down loan. 

You have gotten so many great tips already.  

The licensed plumbers do not get permits for water heaters, I have never heard of one being red tagged solely for not having a permit so I do not get permits (and know no one that does) for swapping a water heater.