Start with a small multi (2-4 units) that is already existing, that needs cosmetic repairs (paint, carpet, windows, but not foundation issues or other major structural renovation).

Taxes can be found in the central appraisal district in which the property is locatedAn agent can help you find the Sf price using comparables from mls databaseClosing costs are somewhere between 2 to 5% depending on purchase price Honestly four plexes are nearly non existent compared to houses here in DFW.

We took hours of classes on how to identify human existence while patrolling though rural terrain.

When asking a couple of title agents for a referral for a real estate attorney to assist with "Subject to" closings they both stated these deals can not be done if the existing loan is FHA or VA or any other gov loan.

These are companies that only exist because they have access to cheap financing and can disappear as quickly as they appeared.

This was my wife and my first purchase of an existing rental property.

Because my buddy rented space and did a build out on an existing facility, he was well south of that 3M number.But as Ron correctly points out, you are buying a job, not a passive investment. 

We have also looked into hiring property management, but we live in a rural area and although these companies exist near us we have found that their average occupancy rate is in the 70-80% range, where last year my occupancy was 95%. 

Hi,On a 8-plex we are offering on, the seller utilized a 5% cap rate with existing NOI(30k) to arrive at 600k purchase price.

New construction properties sold under $300K were 24% of all new home sales whereas existing properties sold under $300K were 62% of all existing home sales.