Right now, I concern myself with the quality asset.

The mold house would only be a good investment if you can buy it at a low enough price to cover the necessary renovations.

Biggest lesson would be to have refinanced when interest rates were low and locked in a fixed rate for longer terms without a balloon payment!

If you hate the process of placing tenants, it may be worth it to hire a property manager to handle tenant placement for you.I think finding a new tenant is a better long term strategy if you're confident you can find a higher quality tenant that will cause you fewer headaches.

The carrying costs are low, but tenant was making partial payments by month 2.

Multifamily properties (2-4 units) can be a great way to build your portfolio while minimizing risk—especially with FHA or conventional low-down-payment options.Also, networking is huge.

For the right people with the right perspective, it could be a great way to diversify your investment and enhance your quality of life. 

Look at quality properties (not something that is cheap and looks good on paper). 

I've now used it twice.The program requires 10% down, must be a rental, no PMI, and has a very high standard of credit.Last I did it (Summer 2022), my rate landed in the low 5%.  

BUT The points they charge and interest are both way higher than normal, on some deals I ran numbers the points and interest were going to be 20k on properties where the ARV is 100k so you have to get properties at such a low price to make it work that it is so hard.