As the old saying goes, it's better to "get prepared, aim, and then shoot vs. shoot and then aim." 

We're based in Calgary, where there’s a lot of pre-construction happening, and we’re aiming to buy a pre-con property as our primary residence.As a first-time homebuyer, I’m weighing two options: 1.

This will be my first home purchase, and I am aiming to invest in multi-family properties.What should I be aware of when purchasing a multi-family property?

I’d aim for low downpayment land contracts and lease options.After refinancing out of the FHA mortgage, I’d evaluate if I wanted to repeat the 2-4 unit FHA 203(k) process again or if I had the 20% down to target 5+ units.Good luck with whatever you decide to do!

Or we gradually perform high-quality updates for a live-in flip, then roll the equity into a new home.Regarding rental income, we aim to boost income, lower our effective tax rate by generating more low tax-drag income with rental income (since there’s not much we can do to lower out W2 tax bills) and have retirement cash flow.To compare the financial impact over 10-20 years, we want to analyze renting versus flipping.

Are you aiming to build a significant portfolio over time, or do you plan to keep it more manageable with just a couple of rentals?

When it comes to good cash flow, I’m usually aiming for something with strong upside potential—higher-end of the affordable market, in a gentrifying area, with a double-digit cap rate around 10%.

Aim for $500/mo min and even that won't allow you to tap into unless that's after cap ex, management, vacancy is factored in.

Since traditional agent training doesn’t cover investing, supplement your learning with books, podcasts, and investor meetups.Good luck!

I should probably focus less on the highs and lows and aim for that average ARV per location and what buyers/renters are looking for.