Finally got a walk thru of the property, now I don’t want to make an offer.This year I have been very intentional about input:- Phone calls- Conversations- NetworkingAfter a conversation with a large local home buyer in Memphis, I found a property that may fit their model.

I have found that multifamily properties tend to cash flow better than the single family homes. 

I generally look for two things: new homes on the market for sale are they being sold very close to asking price, with short days on markets or not.

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?

My elderly grandfather owned a two-family home in the area, but over the years, the property had fallen into neglect.

@Paul Whitney Detroit property values increased over 20% in 2024:https://detroitmi.gov/news/detroit-home-values-increased-ave...https://www.cbsnews.com/detroit/news/detroit-home-prices-amo...https://www.detroitnews.com/story/news/local/detroit-city/20...DM us if you'd like more info...

Part of the reason we have that equity in our homes is to tap into it and turn it into even more wealth.

We're not aware of anyone that's made a purchase from them work in over 3 years:(Most of the incentives in Detroit are targeted to owners that will live in their home or developers targeting large projects.

Along those lines, if the owner gives you a very FIRM "NO" when you present your proposal to rent their home for the purposes of doing STR (short-term rental).   

The downside is that you have to share your home with a neighbor and since most of our duplexes are upper/lower configurations you will usually hear them a little - at least know when they are home.