Having one nearby so that you can manage it better means that you will spend more time cleaning and maintaining rather than hiring someone else to do it and thereby get host burnout in a few months time.

In this case, you could use it to cross-collateralize your loan with a first-position lien.

You'll likely need a higher down payment if you can find anyone willing to finance something like this as a first time investor; many require some level of rehab experience at the very least.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $225,000

Cash invested: $40,000

Sale price: $375,000

Bought a large 4 bedroom pool home and flipped

"I would need to get a cost segregation study done  in the first place" Need to get it done for what? 

It's certainly not impossible, but it's probably going to take you more time and more deals to win one.Like you, this was my goal when I first started out. 

If you do not, I would still love to connect sometime when time permits.

That was when I had enough, and decided to end the lease.He has been living month-to-month for some time now. 

Where are you acquiring your first multi-family?

I am a fellow investor also looking for my first property but I also have a contracting and property management company.