The contractor we hired renovated several other units in the same building and did a beautiful job.

Investment Info:Large multi-family (5+ units) buy & hold investment in Plymouth.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

Then, check to see what a market-rate rent would be for the units. 

Is this a single-family home or a multi-unit? 

My target asset class is multifamily and I just had an LOI accepted on a six unit deal in South Jersey. 

We are here to assist. 

We have 60 rentals12 air bb units, Ohio  and Fla. 15-20  flips and wholesales, between buy and sell close at any point. 

House hacking a 2-4 unit property with FHA (3.5% down) or Conventional (5% down) can be a smart way to start, while DSCR loans or partnerships can help if you need alternative financing.

If you can beat the ROI you're getting on the SFR, then do it.Otherwise, why can't you buy a 2-4 unit with a 3% down FHA loan?