Your first Multi with those savings and income are going to be a learning experience  (In a good way) However do not go in with a massive cashflow expectation.Some Realtors/Sellers might sell you on unrealistic potential high rents and will be adjusted to the selling price....so do your own research.Are you planning on living there as well?

As the market changes, I'll have to adjust my offer accordingly.

On the other property seller adjusted sale price.

Renovation costs are capitalized and added to the property’s basis, reducing taxable profit (sale price minus adjusted basis and selling expenses).

I came up with a list of protections, and the syndicators I'm working with are eager to make adjustments to accommodate my requirements.   

So, those who have been hit with there financing adjusting to triple and quadruple the money cost, slingshotted from life in the green to being deep in the red.

I’d love to hear your strategies and any examples of when you’ve successfully adjusted course!

As for structuring the deal, proposing to buy the single-family in cash with an adjusted purchase price could be a win-win, especially if you frame it as maintaining the seller's cash position for their settlement.

After reviewing the latest ordinances, reports, and city guidelines, here’s a summary of my findings as of 11/18/2024:Key FindingsPermit Types and Fees:Type 1 (Owner-Occupied): $300 for 3 years.Type 2 (Non-Owner-Occupied): $450 for 3 years.Density caps apply to Type 2 permits (12.5% of block face).Enforcement:3 violations in 3 years lead to permit revocation.Fines up to $500/day for violations.Hotel Occupancy Tax (HOT):City: 9%, County: 1.75%, State: 6%.Platforms like Airbnb and VRBO will remit directly to the city starting Feb 2025.Platform Obligations:STRs must have valid permits; unpermitted properties will be removed by platforms like Airbnb.Special Exceptions for Density Limits:Require approval by the Board of Adjustment (BOA).Zip Code BreakdownI focused on these 11 zip codes:Under San Antonio Rules:78205, 78204, 78215, 78210, 78212, 78245, 78258Independent Municipalities (Separate Rules):Alamo Heights (78209)Leon Valley (78238)Helotes (78023)Next Steps:Research density caps and zoning in specific zip codes.Dive into independent municipality rules for Alamo Heights, Leon Valley, and Helotes.Evaluate market maturity and income potential using tools like AirDNA.If anyone has experience operating STRs in San Antonio or these specific zip codes, I’d love to hear your insights, especially about density limits, enforcement trends, or community sentiment.Thanks in advance!

That's a great place to adjust to the area and meet other investors.