I am purchasing my first rental property (multi-family) unit in Salisbury North Carolina. 

-So currently own 7 units in central MA area, soon to be more after my next refinance in 2 months.- Now helping other investors achieve their goals, whether you are brand new or a well seasoned investor.How I Can Help: -Connecting investors with trusted contractors, lenders, attorneys, property managers etc.

My wife and I got a duplex downtown and are house hacking one unit. 

Buy a 2-4 unit, close to home.

Quote from @Michael Lam: Hi All, I'm an out of state investor looking to start a rental portfolio in the Cleveland area for small multi families (2-8 units).

In the next 5-10 years, I plan to leave my current industry and transition to real estate full-time, so I’m especially interested in how this could impact that goal.Current FinancialsRoth 401(k) Balance: $105KContributions: $79KEarnings: $23.5KSalary: $109KContributing 6% annually ($545/month), with a 100% match for the first 3%Investment Growth Assumption: 8% per yearCurrent Rental Cash Flow (Pure Profit After All Expenses): $7,500/month (9 units)Potential New Property Cash Flow (Pure Profit After All Expenses): $1,300/monthCurrent Real Estate Portfolio Value: $1.4MAfter New Property: $1.7MWithdrawal Breakdown ($60K)Tax-Free Contributions: $45KTaxed Earnings: $13.4KWhy Only $13.4K Is Taxed and PenalizedMy Roth 401(k) balance is made up of:Total Balance: $105KContributions: $79K (75.24% of total)Earnings: $23.5K (22.38% of total)When withdrawing, the money comes out proportionally from contributions and earnings.

They don't care about the 20 year old HVAC unit or a 10 year old roof.

Institutional Borrowers (With In-House Capital Markets Team): We work with many institutional clients with 1,000's of units under management that have in-house capital markets teams.

If you are getting buying now in TO & Niagara, you will need to have a large down payment for the units to cashflow. 

Both flat and percentage base charge usually a 1 month fee to lease out the unit.