Account Closed Thanks for your response. my question to that would be,how did you determine which market was right for MF vs SFH investing?

In 5 years are you hoping to have 5-10 solid investment properties that cash flow but also appreciate nicely or are you looking for some high yielding cash flowing properties that you can dump in 3-5 years? 

With older homes go heavy on the inspections and know what you’re getting into up front.

I wouldn't do that, they are not bad actors,  these are C properties with heavy value add which is higher risk, and certainly mistakes were made.

You either reimburse everyone or reimburse nobody and then you are in compliance with fair housing.Unless you rented a furnished apartment, I don't see how you could be responsible for wall anchors, either financially or for liability.  

I would write a professional response and move on.

Neither the authors nor the sources cited can be held responsible for any losses or damages resulting from the use of this information.Feel free to reach out if you would like to invest in the Birmingham market.

Where I lack understanding is at what point do you start making money for example you buy a duplex lets say it was 300k the monthly mortgage is 2,500 each renter pays 1,500 thatd 500 cash flow which is I guess “profit “ but as the landlord you're responsible for major repairs such as but not limited to roofs, plumbing issues, electrical issues that all can be expensive you would have to have money saved so that 500 cash flow is profit but wouldnt it just have to sit in a bank account? 

All of your responses are very helpful! 

But due to the above factors- we're still in a hot and heavy seller's market, with no real relief in sight for buyers (add to that, with the new Burnett / National of Realtors settlement, they will be squeezed even further, having to also potentially shell out their Buyer's agent fees, which, traditionally, have been added into the seller's listing price before listing to provide to the Buyer's agent).