I have a client in KC that has acquired 45 SFRs and is just now looking to buy MF properties.Two of the biggest things to consider when buying a commercial property (5+) versus a 1-4 MF is cost (e.g., the appraisal for 5+ is at least $2k-$3k) and the financing structure by lenders because Fannie/Freddie don't generally buy loans for commercial properties.So, for you personally, the biggest driver for the type of your next property is probably going to be the amount of a down payment/equity you can put in the property.

Multifamily is considered residential since people reside in the structure. it's part of contractors license law, our testing is on it and violating can and will result in punitive actions.

A few areas to consider for long-term rentals are Madison, South Huntsville, and the areas near Redstone Arsenal, as they attract stable tenants.Are you looking for cash flow, appreciation, or a mix of both?

As @Brett Synicky suggested, keep it simple, as a sole proprietorship.You are also not considering that you will have to pay $800 per year and per LLC to your greedy state.In short, get some professional advice instead of TikTok advice.

It’s worth considering self managing as a STR for depreciation benefits if the demand is there 

I was also considering the REI expo in February so maybe I'll see you there.You're a self-proclaimed novice but I think many other members of the community would agree that you're well on your way given your potential cashflowing rental and equity.You seem to have a strong position which would allow you to keep growing your portfolio in the next few years.I'd recommend diversifying your RE portfolio the same way you're diversifying with other investments (REITs, Stocks, bonds etc.).

I realize that I will need a W2 to make get a mortgage, so I was considering picking up a couple of part time, flexible jobs in order to hopefully acquire a new property as an STR.

This is a buy and hold in a great location in a great market Does anyone know of a group i can post this deal And last option we were considering was to use her cards to pay off my debt so then I can buy the house from her and get a loan on it If u made it this far thanks 🙂

Would you consider it to be in an A, B, C, or D neighborhood?

@Louis Hamilton,If a HELOC doesn’t work, you might consider these options:1.