Hey @Dalton Foote - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

Quote from @Andrea Lucarelli: I’m interested in beginning my REI career with purchasing a SFH or condo in Cleveland area (safe neighborhood) to list as a furnished rental for travel medical professionals, supply corporate housing needs, or house temporarily displaced families for insurance companies.  

In terms of scaling to three to four multi-family properties, you could really start using the equity that you do have to your advantage. 

Traditionally I rented my apts. usually to families or roommates. 

That said, tenants sometimes push for alternative solutions, as in your case.Here’s what I’d suggest:Broaden Your Marketing ApproachFebruary and March can be slow months for leasing in family-oriented communities, but it’s not impossible.

I see some larger single family homes in areas that appear to be zoned R2 that, at least from a physical perspective, seem like they could work for this.

I've seen small multi-families (2-4 units) appreciate very nicely in the Lewiston/Auburn area.

My name is Max Nelson, I am a Bay Area based Investor with a single Family home in Santa Cruz, CA that is a Short Term/Mid Term Rental and a Duplex in Bend, Oregon.

Investment Info:Single-family residence other investment.

Investment Info:Single-family residence buy & hold investment.