would get estimates and see how long to recover the money and your long term plan for the property

The initial plan is a 1200 sf build out with plans to expand back away from the cliff later as finances and interest rates are more favorable.

I've spent the last 3 years nagging the city to sell me a lot next to my property so I can install a driveway and they've finally agreed.

What is your average rent amount for all properties managed?

.#2 - Learn how to run comps so you know the value of the property better than anyone. #3 - Have finances in order (i.e) is this going to be bought through conventional, cash, HML, etc.

I am fairly new to real estate, but have been able to get a few properties which will help us own a block in downtown Columbus, OH.

Hi David, you need a discounted propety, have you tried hyper focusing on off-market properties in your desired area.  

For the multi-family, lenders typically count about 75% of projected rental income toward your debt-to-income ratio, which should help if the property is cash-flowing.

It wouldn’t work in a red hot market like we had a few years ago where everything was selling super fast, but in todays market there isn’t as much urgency to see properties and get offers in immediately.  

Most likely those would be smaller apartments, sub 50 units.It is harder to find solid property management on the smaller apartments.