Multifamily is incredibly complex and if you don't understand the metrics or calculations behind it, you're going to get burned. if you're just plugging numbers in until it "goes green", you are either going to miss out on deals or buy something you shouldn't. 

)  Arizona Arizona is a snow bird state, we have golf, baseball training, then a dead hot summer where nobody comeshow can I come up with some numbers before wasting time to look for furnitures and buying beds ?

If you plan to buy in your hometown, buy a 2-4 unit, and live in one of the units.

He still buys at a discount regardless of the strategy.

Investment Info:Large multi-family (5+ units) buy & hold investment in Plymouth.

Originally posted by @Max Gradowitz:I'm in CA and the most common LLC-related question I get is "I live in CA, I want to buy properties in other states, what state should I open an LLC in so I can save money?"

The first thing I ask is why am I Buying the property.I always look at the exit strategy first, is it going to be a rental, a lease option sell, am I planning on living in it.

Those four classes are where the majority of investors will buy rentals. 

@John Lasheri agree with you, you'd be surprised at how many people listen to Grant Cardone though, and decide that they're going to go buy a 100 unit with 'OPM' as their first deal and quit their job.i think buying something of that size with a few partners is a perfectly good goal. 

The BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) could also be a great strategy to recycle your capital.To find deals, try direct mail campaigns targeting absentee owners or distressed properties, or go driving for dollars in neighborhoods with strong rental potential.