These can be great for making initial connections and learning about specific markets.Since you're thinking long-term, consider spending some time in your target markets to build relationships with agents, property managers, and contractors.

I'm really excited about the potential of investing in residential multifamily properties with my dad, who's willing to contribute the initial funds.We're currently working on getting our financial house in order, paying off debt, and building a solid nest egg.

We initially wanted to get a $190k house to fix&flip, which could've been a nightmare and was from HUDhomes...

In this example the initial investment would be $50,000.So the owner of the IRA would have to pay 37% in taxes seems to negate the interest paid of 12.5% annually.Do I have this correct?

It would cost less, initially, if a person kept it as four units and either rented the property out less of the time or not at all and kept it strictly as a vacation property.Any thoughts are appreciated

Once you get past the initial learning curve and have some basic knowledge, it gets a lot easier though and at that point most knowledge gaps can be filled as they come up.

There has been zero engagement without me taking the initiative with regards to the process leading up to the foreclosure sale.  

Could seller finance (not recommended) to reduce initial burden and spread it out over time

Dropping your rental rate and remaining competitive in the market, will attract the right tenant based on your initial application and screening requirements.

Not sure if hard money would be the correct route to go for this one or notHey @Scott Allen I generally run the initial underwriting to minimize the developer's equity (@Shayan Sameer) based on the max LTV % or LTARV % that the handful of HMLs that quote me on my deals.