Quote from @Holly Radice: I am looking into purchasing a 4 unit in Ohio as my first property.

With a purchase price of $250k, your rent is WAY too low!

I have success in helping my out of states and foreign investors purchase properties with this type of loan.

I actually purchased a SF house with a two story detached garage in a nice area of brockton.

My goal is to purchase 15 units in the next 5 years, and produce a cash flow of $20k per month within the next 10 years.  

@Chase AlexanderRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

House hacking by purchasing a duplex, triplex, or single-family home with extra rooms can help you reduce or eliminate housing costs while building equity.

I like the strategy of having a job with guaranteed income and taking advantage of owner occupied financing to purchase a house hack, staying connected with the REI community in the area, and scaling up from there.

@Preet Oberoi Purchasing a short-term rental (STR) or tiny home to offset W-2 income with depreciation can be effective if structured correctly.