Real estate's "gross rent multiplier" is Wall Street's "sales to revenue",  "cap rate" is roughly "P/E ratio".When evaluating markets and investments I tend to start with GRM (or lazily the 1% rule), then attempt to return a cap rate based on assumptions about costs, then I work my way to multiple years of projections (assumptions about inflation, amortization, tax benefits, etc), and if I am partnering with one of my smart friends I have to pull up an IRR (internal rate of return).I also look at regional employment levels, median income to rent ratio in the zip code etc. 

SFHs are a great starting point, but small multifamily properties (like duplexes or triplexes) could also work well given your financial foundation.

He didn't want the walls, so he could  keep his cost low.

In addition, his point of view is that any attorney worth their salt can find a way to defeat an LLC, they aren’t the rock solid wall people think they are by a long shot.Again, this is what I was told, so please find the answers from an actual attorney.

., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

Converting the basement to a living space to make a duplex.

My goal is to purchase my first duplex or triplex in this area in 2024.

$100 a month is not enough for a duplex depending on age.how well do you know this market?  

I have several vehicles and lots of stuff in general and a wife that would not be ok with a duplex.  

After buying this house, I partnered with others to invest in a duplex in the Wichita area.At the moment, I’m living in Tennessee, and I’m weighing two options: either selling my house and using the proceeds to buy a duplex in Overland Park or Wichita with my partners, or keeping the house for another 3 years, transferring it to our LLC, and renting out the entire property to maximize its rental potential ( $1400-$1600 ) I currently owe $200k on the property with a 6.5% interest rate, and my monthly payment is between ($1,700-$1800).