It is very important that the Wrap Mortgage is written at market terms using a knowledgeable attorney, an RMLO, and a servicing entity.These have risk and I'm not saying a new investor should go out and do them. 

. - Despite 3 tenants in under 3 years, it has done very well for us and has only been "vacant" for 15 days in that period, and has great cash flow, ~$1000/mo due to ~50% equity in the property, and a low covid-era interest rate. - I have been saving ALL of my cashflow into its own account to accumulate to buy the next rental (totaling ~$24,000).

You could build a crazy amount of wealth and a great career doing that.

Go straight into focusing on creative finance, subject to, and minimal cash down deals and build from there.I want to hear your thoughts on what direction to take here if you were in my shoes given these constraints (full time job and a few thousand saved) and you want to optimize for passive income first, then value appreciation?

8%-11% is pretty standard here and as someone mentioned it really just depends on how the company is run.

I also practice as a Realtor because I enjoy it and it is extra income.So as an investor, your options are to get your RE license and have access to a lot of tools and do the research yourself (therefore you're paying with time, energy and a little money) or you work with a great realtor/investor in the specific market you're looking into.

I have been a podcast listener since 2011 and a forum browser since 2020!

This facility has 144 Units and a 3400sqft shop house on the property.

Quote from @Steven Diaz: Hello,Was going to start construction on a two story 3bd 3.5ba 1500sqft primary home and a 2bd 2.5ba 800sqft ADU.  

For me a good SFH is going to be $300K now (which doesn’t make sense) and a 4-6 unit is between $375K-450K.