For investors, multi-family properties are great for cash flow, and local networking is key.

The Cheshire Cat: “That depends a good deal on where you want to get to.”Alice: “I don't much care where.”The Cheshire Cat: “Then it doesn't much matter which way you go.”The key is to define your end goal and work backward from there.

As you begin, it's essential to familiarize yourself with the key concepts and strategies that will help you succeed.First and foremost, building a strong network is crucial.

If you want to go the "cash for keys" route, there is no specific formula or legal limit, it's just something you negotiate directly with them. 

Communication is key!

Key details:- Existing debt: $2,038,000 at 3.8% with 7 years remaining- 92% of units already upgraded- Recently implemented RUBS program- Strong occupancy in a growth marketGiven the current debt structure and property improvements, this asset presents an attractive cash flow opportunity with potential for further optimization.

Coordinating contractors and maintaining the project schedule were key hurdles.

If you believe she is honest, hard working and her style of communicating fits you- she needs an app to help her with paperwork I suggest yardi or doorloop/ get a contract in writing that you negotiate with every nitty gritty duty- for example: who keeps copies of keys, how often are inspections done and how is the data provided to you, what dollar amount she can front money for repairs, when to call you...

My favorite one is make sure they transfer utilities into their name BEFORE you give them keys.

Consider factors such as location, property condition, future development plans in the area, and your long-term goals.Remember, patience and persistence are key.