To me the biggest takeaway is that as real estate professionals, we always talk about location, location, location.

Common sources of such properties include:Foreclosures: Homes that have been repossessed by banks due to non-payment.Distressed Properties: Homes that are in poor condition and need a lot of work.Auctions: Properties sold at auction for below market value.Off-market Deals: Properties that aren't listed on the MLS but are available for sale through direct outreach or networking.The key is to buy a property at a price low enough to ensure that even after renovations, the home will appraise for a higher value.2.

Rental income will still be taxed as Oregon source income, and you will also report it on your California individual tax return as part of your worldwide income.

Better to go right to the source.

What I'm trying to say is that going up to 1.5-2 hours outside of even the biggest cities, there are pockets of affordable towns/cities with at least positive cash flow (although its never been harder to find than right now, I've been waiting for 3 years for the market to make sense before buying again). 

The biggest differences between residential and commercial:  Scalability, financing are very different, property taxes may be different, Insurance is definitely different. 

@Emeka Okeke, the biggest thing is actually doing it.  

Quick question: What’s been your biggest challenge when managing smaller multifamily properties?

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

I also completely understand the frustration of navigating through "Joker brokers" and fake lenders who promise more than they can deliver—one of the biggest challenges in the industry today.Regarding your approach to accrual-based repayment options, that’s a huge help for flippers managing tight cash flow, and it's great that you offer that flexibility.