Now let's add one more zero at the end  - I will teach you how soon!

On a side note this isn't the best deal and it would all depend on location, condition, and value add on whether it would be doable. 

So while your vacancy might remain low, you will still have to find 4 new tenants every year.So you've got a closing credit for the furnaces, but if you have to replace 1 furnace there's your 10% for the year, add on to that a carpet replacement and you are eating into your thin margins.

Big enough to have some space somewhere (either good size bedrooms, or living room, or kitchen) but small enough to rent at a decent rate (i.e. for me, 1,300 to 1,350).One thing I'd add on the carpet.

A: newly flipped (seller invested $100k on flip), ready to collect rentB: tenant in, rental is 10% below market, oversized lot can add on Which type of property is more suitable for a newbie like me?

As a quick add-on, make sure there's enough wiggle room to account for vacancies and repairs - 3 families means three bathrooms (at least), kitchens, heating systems, etc., with possibly more frequent turnover.

Run an add on CraigsList.org and describe your potential investment to the "T."

You have already received excellent advice, so I won't repeat that, but I will add one thing: regardless of the friend/no friend thing, be sure that you have correctly read and priced your market.

@Dannielle Hoffman I would agree with everything @Will Pritchett said and will add one thing regarding small MF in San Antonio.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.