Expectations for a higher standard of decor and theming has infiltrated this industry and those are the ones that do well.

Start with a standard offer, and write a contingency into it for electricity, all the below ground utilities, and then work your way to zoning, permitting etc.

@Martti Eckert here's the big issue that no one really talks about that you hopefully find helpful (this is copy & pasted):-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

(I know a lot of investors who are doing this, but I've been surprised to find out that it's a new concept that others haven't considered.)The more units, the better in this scenario because you can hedge your bets with more units.

Or try the reverse - rehab a property to Class A standards in a Class D neighborhood and try to get a Class A or B tenant to rent it.Unfortunately, many newbie real estate investors are jumping into buying affordable Class C rentals - expecting Class A results.

So act quickly, do as the others are saying and screen him according to your standard criteria. credit, references, eviction history, etc.

Rehab to the standard of the neighborhood.

I’m new to private money lending, so while I understand the concepts in principle, I’m still figuring out how to identify and connect with these investors in practice.To clarify, I’m targeting 6+ unit multifamily properties, and private money is a way to scale my expertise from smaller properties into larger ones.

Check about the concept of "house hacking", many people start that way.

What you need to learn in your 20s is how professional business works, how to manage people and projects, how to run an organization and how to sell ideas and concepts.