Love that you have been in the RE game for so long!

The man selling said he knows he will lose money on the deal as the property already appraised for $560,000 but would love to get a young investor like myself into the game since his son did not end up sticking with it.

The current game is flipping which is a job (stop flipping and you stop making money) or more patience than I have.  

Multifamily is a long term game, but well worth itGino

Start with Strategy by Dave Meyerhttps://a.co/d/8u2CtKyI read this book in Sept and it seriously changed the game for me.

And I generally require a sponsor that has full real estate cycle experience with little to no money lost, low leverage, high skin in the game and reasonable fees and promotes.However, other investors will look at these deals as bad/too boring for them because they are more aggressive and not concerned about the risks of default, refinance, interest rates changing etc.

But my understanding is that it's a numbers game.

As someone in the game for more than 30 years, there are cities I have always been interested in, but have no interest in a one-off for myself so this is a great opportunity to get exposure in a market without any of the operational pain.4.

It's good to hear that you want to play the long-term hold game as that is how you'll ultimately build equity.  

U can have zero experience and just need a few bucks and a  good credit score and you can buy a home to live in or a rental.. but not development deals.. different ball game