Once you've determined that you can purchase a property, you'll want to employ an agent, tell him/her what you're looking for, and start looking at properties of interest. 

In this area, many times basic repairs will not earn you approval or the highest rent determinations from CHA.

All it means is that if you had a to pick one, you should pick 401K all day, every day. 

Even though the application of a cap rate on future income is improper, if you are determined to apply the 3% spread rule, you might find a lot of success if you apply that rule to capitalized income upon stabilization. 

I understand that I need an appraisal to determine my (stepped up) cost basis on the date I inherited the house.

Pick their brains, their successes and their failures3) Take Action: Save capital, evaluate deals.

As for the PM issue as long as you screen really well and pay attention to basic maintenance 10-20 will be easier than your current 3x3 buildings provided you do not pick a dog for the 10-20!

Usually, it's the neighborhood that determines what types of tenants live in your properties.

A lot of my clients were picking up three units for 240-250k last year in Berwyn and Forest Park, and those same opportunities are now selling for north of 300k.

Move out of state to house hack a property because the current city I'm in (Denver) is slim pickings.