Also, townhomes are a great bridge property, it's a common trend that those in townhomes are aspiring for home ownership meaning credit sensitive and with that right mindset. 

But everyone has their own unique financial situation, financial goals and risk tolerance.

My goal is to create financial security for retirement.

The two most common exemptions are the exemption for intrastate offerings and the exemption for private placements.  

A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.

All 3 cities show a 7-11% decrease in home sale counts over the 2017-2019 average, so we still have plenty of catching up to do in terms of housing supply - much harder to do when you're growing fast.Durham and Charlotte are set to make large strides toward that goal - but Raleigh is barely budging.

I would do some market research on top-growing cities and determine which of those cities are within your price range and cashflow goals.

I know Deed in Lieu is a common and normal practice.

I believe this is very common among funds and syndicators.

@yu liu, I believe management fee is 25% for my contract but every contract is different. 20-25% is very common among the vendors I looked at.