Hello BP family, I have a unit that has had several applicants but all have shown red flags.

I asked because (1) MF market is red hot in many markets of the country right now; (2) I used dual agents (or agents from the same brokerage) purchasing several SFHs in the past, and my (maybe native) impression was that it did help get me a hot deal and (3) There are MF investors who are doing direct marketing campaigns can avoid CRE brokers completely and only use RE attorneys in these deals.

From my experience, here are some red flags to look out for when looking at a private lending resource.A legit private lender will never ask for upfront fees.

.- 30 day min rentals (the deal breaker)- In person check-ins (additional expense or at minimum a time investment)- Noise monitoring devices required (a small expense, but this one I agree with)- Max heads in beds (although reasonable at 2 adults per room)- Posting a contact number in bold for the public to see (100% need to pay for cameras and an alarm if this one passes, that sign might as well read "rob this house").I'm all for regulation, I just hope they don't "government the crap outta this" and in an attempt to control isolated incidents, make a system overly complicated and expensive, therefore no longer profitable to the small guy.

Both communities would be great to live in, but as the other commenters mentioned investing for appreciation is an ill advised strategy, in addition you should be extra careful when investing in condos and townhomes as HOA fees and special assessments can quickly push you into the red and kill your NOI 

Unfortunately, you are chasing a red herring.  

About a month later when I drove by, the city had red tagged it and shut him down. 

All in all I’m just kind of lost on where/when to start..I guess my main questions would be:Is starting with multifamily too bold?

Ensuring that GC's are showing up, getting ample work done in a timely manner, and working according to your expected quality is important, but you may run in to red tape with the city and/or utility companies as well.

Just spent $3,400 on a gas leak at a property this month so I’m in the red for Feb.