@Joe BellevilleTo build a successful multifamily property portfolio in Grand Rapids, set criteria for property type, location, and budget, build a team, analyze deals using the 1% rule, leverage house hacking, leverage local knowledge, prepare for tenant management, network, and focus on long-term goals.

As a general rule of thumb it's smart to pay for 10 - 20% of the total costs (purchase price + rehab) out of your pocket and then finance the rest with hard money. 

While the 1% rule might be difficult to achieve, appreciation and a livable flip might make sense for your goals.Greenville SC: This market has seen significant appreciation and demand over the last few years.

In the commercial space, different rules may apply.Other than this, you'd have to discuss the logistics with your broker.

That rule says that if you live in your Home for 2 out of 5 years, you can sell it for up to $250,000 Tax-free.

@Dennis Gallagheri don't really use any rules anymore, i just evaluate the actual expenses on actual properties. 

I think FHA loans are still popular but if you can swing it the new 5% conventional rules are huge.

But in my opinion the 1% Rule has gone the same way as the 2% Rule.

This seems crazy as the risk is different, the rules of what you can do with the cabin is different, and most importantly the price difference between cabins on land they own versus forest leased land is extreme.

Apparently it violates their rules somehow.