The income from the rental units could help you buy a bigger property than you could on your own.

Bigger pockets is a great place to start by asking advice to those who live or invest in certain states/cities.

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With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

Also, you don’t need a business license just to look at properties, but if you buy a bigger property, like a multi-family unit, you might need a certificate of occupancy, depending on the local rules.For business trips, most expenses can be deductible, but if it’s part personal and part business, you can only deduct the business portion.

Bigger pockets Podcast 334I have never watched a full real estate podcast before.  

When you pay cash for a $400,000 home and rent it out, your rate of return will likely be less than 6%.You could invest in stocks and earn 7% or better.You could put the money in a high-interest savings account and earn up to 5%.I don't understand why anyone would pay cash for real estate, erasing many benefits that increase the rate of return, while exposing themselves to the risk of loss (turnover costs, bad tenants, capex, etc.). 

. $275K acquisition  and you believe a 40 year amortized loan is necessary to make the numbers work, this transaction may have bigger problems.  

It’s the "bigger bird, smaller stone" approach: multifamily offers more immediate cash flow and flexibility when you're getting started, while single-family homes can provide more simplicity and scalability once you've built up some capital. 

There are several companies that send letters and some are active on Bigger Pockets.However, I would caution you to set expectations appropriately.1.