In case your aré interested, I am selling a 12 Unit in Playa del Carmen, 10min from the beach.

(Max vacated rents - your monthly mortgage payment) = +/- net cashflow.On the other hand, you could also look into multifamily units where you can live one of the unit and rent out the other vacant units with as little as 5% down payment.

We've been owner-operators for the past 3 years in Jacksonville, FL, we've bought over 200 units and currently own and manage 51 units in Jacksonville.

Will you need to do anything to the unit to increase the rents to at or above market rents? 

The newer cabinet doors might be harder to find but it looks like it would be easy to make doors to match the older flat panel doors.Also, try looking at Restore the Habitat for Humanity thrift store or other used building supply places.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Townhomes and Condos: Steady and StrongThe townhome and condo market also shined brightly:Closed Sales: A total of 1,277 units sold, a 4.5% increase year-over-year.Cash Sales: Over half (52.4%) of these sales were cash transactions, up by 3.6%.

I’ve attached some pictures for reference.Depending on what you are doing with the unit I don't see $40k in costs there.

https://www.har.com/content/department/newsroomHouston Real Estate Highlights in March, 2024:-Single-family home sales declined 7.5 percent year-over-year;-Days on Market (DOM) for single-family homes went from 62 to 55 days;-Total property sales were down 7.0 percent with 8,939 units sold;-Total dollar volume fell 5.6 percent to $3.5 billion;-The single-family median price rose 1.6 percent to $330,000;-The single-family average price rose 1.3 percent to $412,464; -Single-family home months of inventory registered a 3.5-months supply, up from 2.6 months a year earlier;-Townhome/condominium sales continued to decline, falling 6.7 percent, with the median price up 5.1 percent to $235,000 and the average price up 2.2 percent to $276,262.

@Raj Patel are you looking at 1-4 unit properties or 5+ properties?