Sorry if this has been covered before, we are located in Minnesota if that matters.   

Aside from downpayment, you want to have a solid emergency fund in place, something that can cover unexpected repairs, vacancies, or any other random costs that pop up.I’d also recommend saving more than you think you'll need and keeping a close eye on your expenses.

There is a lot of stuff to cover, so try to make as much time for it as you can while working your W2. 

I would maybe add that, with your portfolio spanning several states, you may want to research/interview a national PM that could cover all your properties with one contract.

Yes, I realize it was the first time, that is why I would cover the cost in an effort to be a good landlord and not discourage my tenants from reporting future issues.

For a long-term rental, would a small multifamily in Raleigh be necessary to break even and cover the mortgage compared to a SFH?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

For me as well as the seller.First, you have to define Sub to financing.Do you mean the reckless kind where you overpay for a property, take over the financing and borrow from others to cover closing costs and holding costs when you have no money, no credit, no income, no reserves and can't tell a warranty deed from a deed of trust and you close on the kitchen counteror do you meanbuying below market value, already having a nice income, having reserves, using escrow and title, already understanding the due on sale clause, have done a lot of creative purchases and know when to use and when not to use creative finance and how to recover if something goes amiss?

It won't hold a heavy mirror.

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