I came up with a list of protections, and the syndicators I'm working with are eager to make adjustments to accommodate my requirements.   

Long story short, I spent about 3 months figuring out how to make half-decent drawings and refining and adjusting them to code.We started work on the basement at the end of May with Minh and by the middle of September the basement was transformed into a luxurious 2/1.That still left a lot of landscaping work, but my wife and I tackled that over the next 3-4 weeks in addition to the furnishing.

On the other property seller adjusted sale price.

Your first Multi with those savings and income are going to be a learning experience  (In a good way) However do not go in with a massive cashflow expectation.Some Realtors/Sellers might sell you on unrealistic potential high rents and will be adjusted to the selling price....so do your own research.Are you planning on living there as well?

Renovation costs are capitalized and added to the property’s basis, reducing taxable profit (sale price minus adjusted basis and selling expenses).

As the market changes, I'll have to adjust my offer accordingly.

I’d love to hear your strategies and any examples of when you’ve successfully adjusted course!

It discourages new landlords from entering the market and limits the ability of existing landlords to adjust rents to match rising maintenance and operational costs.

I ended the offer to rent to the tenant on December 1st and didn't receive any communication from LMHA until December 15th when they tried to schedule the inspection...that's 45 days to process a voucher.We had another home pass inspection on November 5th and we hadn't "stopped and waited" for LMHA because it had never been a major issue before so we let the tenant move in...LMHA announced on November 15th that the tenant voucher needed to be re-evaluated by LMHA and that the rent rate needed to be adjusted (The story was the "Administrator A" reviewed and approved it but since they had resigned, now we had to wait for "Administrator B" to do it.

That's a great place to adjust to the area and meet other investors.