It’s incredible that his experience would be so similar to mine.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

As I approach the end of my current lease, I'm eager to embark on a journey of house hacking with multifamily properties.

@Chris Mahoo many new investors don't take the time to properly understand RE investing.1) Many are using approaches from 2010-2018 when Class A property prices were so low from the Great RE Crash that an investor could cashflow and get pretty easy Class A tenants to manage.2) If you look at what investors were doing before 2008-2010, most were buying Class B & C rentals.To make it worth while, an investor either needs to Fix & Flip or invest & hold rentals for 10+ years.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

@Chloe SalcedoStarting your real estate journey at 23 is an incredible opportunity to build a strong foundation for your future.

If this is your approach, you will end up eventually get a bad taste of the lending industry as a whole.

While prices have risen, there are still opportunities with the right approach.

Honestly your approach may be a bit rough around the edges, but actually getting out there and trying to find deals through grit and hard work is the best way to start.

Conceptually you want to take an approach that minimizes your need to be on site - and for that reason I would advise against BRRRR.

Quote from @Sean Barnebey: This is an interesting opportunity, and it sounds like you’re approaching it wisely by considering the numbers carefully.