Set clear expectations with them upfront—weekly reports with photos, videos, or virtual walkthroughs work well.

Agree on not finding a multi with $40k, will need to put more cash in but it's a decent chunk

Investment Info:Large multi-family (5+ units) commercial investment investment.

I also live in Orange County (Just north of Fullerton) and am interested in learning more about multi family house hacking.

I plan to start my investing journey with an owner occupied multi-family in Albany or the surrounding cities.

A very large DST sponsor I talked to recently told me their average return after all fees and commissions has been 9% overall and 12% for multi-family and student housing.

Most of the tax experts who specialize in real estate work completely virtually these days.That said, a local CPA probably does have an edge if your state has state income tax and especially if your city has a local tax on top of it.

@Dwayne RoweWe did a consolidation loan through a commercial banker (basically a multi-property DSCR loan) where we took out one loan that paid off 5 higher interest rate properties, and took out cash as well at the same time.    

Acquired a double lot for $112k after resolving title issues and paid $360k for construction, creating a 6-bed, 5-bath house designed for co-living or multi-gen use.

Quote from @Richard Kim: I'm a fairly new small time out of state investor who owns a couple multi-family properties in Cleveland.