If you ever want to explore loopholes, tips or tricks on the finance side let me know or send me an email. 

Hi everyone,
I’m new to real estate investing and I’m considering getting into long-term multifamily rentals. One thing I’m trying to figure out is how to find good locations where property prices are relatively low,...

I’d love to hear your tips, lessons learned, or even beginner mistakes to avoid.

Welcome to the community and be ready for a huge amount of information at your finger tips.

I recently came across 1 acre asking for 314k in a very good residential and growing location, so the current owner has added 4 manufactured homes with 4 electrical meters, 4 septic tanks and only 1 water meter for all 4 homes, the homes are sitting on partial slab and partial pier & beam, he also added 2 storage sheds approx. 380sqft with the intention to make them ADUs they are still only the shell so I would have to get those ready to live in, so currently the 4 manufactured homes are being rented and bringing in 2800k a month, 3 of the homes are needing some TLC which could increment rents and possibly get me at 3600k a month, also being a 1ac lot this still leaves about 12,000sqft of raw land where you could build etc.So that is on the good side now the things I did not like so much, the lay out is poorly executed to where it makes it looked crammed up and not professional but it could be fixed.Another is that in reality there is only 4 livable units so that qualifies under a conventional loan but since they're are 6 units on the property the banks are wanting to take it as a commercial so we would have to move out the 2 storage sheds out in order to close as conventional.Another concern, technically you are only allowed to have one manufactured house or single wide in your property according to what I know but I know it could change according to zoning which I will investigate, so my question is has all this been accounted for and if so how can I verify it so it wont leave me in a bind further down the road, I currently asked my agent for the appraisal of the property to see if that might verify.Any recommendations?

Feel free to DM me and I can provide some further guidance and put you in touch with someone.

I would love to connect and further discuss 

Later, you could refinance, pay off the sister’s share, and potentially renovate further to add value.The big questions seem to be how to handle the mortgage so the parents aren’t stuck paying rent and whether setting up a trust or another legal structure makes sense for passing ownership smoothly.

Also if you get signed up for Pro it locks you in at that price and you are not subject to further price increases.

.🌟 Pro Tip: Next time someone questions your real estate investments, ask them if they'd turn down an opportunity to buy shares in a company that:Pays monthly dividendsLets other people pay off their investmentOffers significant tax advantagesCan be improved to increase returnsCan be bought with 80% financingBecause that's exactly what you're doing with real estate!