I now completely understand the differences, and while consuming real estate content for the past week on this topic, I have also been leaning towards multifamily and this further cements that.

In most cases, neither is warranted.Warning: I am not an attorney, and this can be a complicated topic.

For the LTR, we used(took off market yesterday while trying to decide on the said topic) market it at $2050 with concession of $1000 with all utilities paid for by the tenant.

There are lots of books on the topic but there's not substitute for taking action and learning from your mistakes.

Here is a revised version of this post, updated December 2024:https://www.biggerpockets.com/forums/51/topics/1223547-expla...

If you're expecting property owners to sell their home to you at a discount, you'll need to earn their trust - whether that be by demonstrating a successful track record with purchasing/selling similar deals OR by meeting them face to face and separating yourself from the dozens of local investors and realtors.Lastly, I'd recommend searching past posts related to this topic as well as checking out books related to your target investment strategies.All the best!

Grant,Great question/topic.

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

The seller was not in the wrong by saying "no" to the water damage question on the RPOADS form.You can read more about this topic here: https://www.ncrealtors.org/question/can-property-damage-be-a...When things get tricky is when a seller marks "no representation" on the RPOADS form about an issue.

@Josue RamosBiggerPockets has resources on this topic.