You really really have to have boots on the ground that are familiar with the area and that tenant pool.

Any tips or guidance on what I should watch out for ?

Having done the barest of research, we've looked into the idea of pooling our money to try and buy a multifamily for my wife and I, my dad, and the two friends, as the two friends also want to stop renting and to start owning, even if it is part of a multifamily/apartment building.

Also, if the groups that you are investing with offer any type of tiered structure, are you typically pooling enough capital to fall into a higher tier?  

- Investing with a Friend: Tips on structuring partnership and legal/financial considerations?

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Does anyone have any tips on how to buy my first property without paying all in cash?

Quote from @Zeke Palmer: Does anyone have any guidance or tips for purchasing properties thru Ohio Sheriff Sales?  

He does this in FL market and might be able to give you tips/tricks.Thanks for thinking of me and the shout out!

I'd love to hear any advice or tips you might have on what else I should be focusing on as I start my buy-and-hold journey.