I got started by saving my pennies for a down payment on a house. 20% down on a cheap house in Santa Barbara is a huge chunk of money which took me many years to accumulate.

But in our market, the ROI is still much greater with SFR.But then again, I do manage my own properties, I do rehab my properties to the point of not needing repairs for many years and to a higher standard than most for the areas I invest in, I do buy properties cheap and rehab them because it doesn't scare me.So my decision process is simple.

If it's cheap, you may even want to provide the estimate from a contractor to the appraiser, then show the Bank you have plent of money to get it to liveable condition to get rents going ..

You may be able to find cheap, cheap properties in a given market, but what do similar, rehabbed properties in that same neighborhood, or zip code, actually sell for?

State and local laws may prohibit this, but this may be an interim strategy.In any case, part of the real, future value of the property, other than simply filling up vacant lots, might also revolve around the new owner (maybe that will be you) buying up cheap manufactured homes, placing them on the vacant lots, then renting both land and home.

I don't like variable rates when long-term rates are so cheap.

You're under $30/month which seems really cheap for trash pickup for 4 units, it's more in line with what a single family home would be.

The advantage is they are relatively cheap to construct and install.

@Mark Updegraff gave solid advice and I'd reiterate walking the property and scoping out the area to see if it's a good fit to your strategy.Pros: cheap units and high cap ratesCons: DSS/Sec 8 tenants likely and crime

In total we spend about 7,000 per floor on furniture -- that included 4 beds frames, mattresses, desks, dressers, chairs, floor mats, 2 couches, coffee table, end table, and entertainment center.Here's what we found:Pros:* Shows great because everything looks new, so I can command top rent for my area* Furniture is cheap so if it gets broken, it's easy to take out of the security deposit* Couches are easy to clean* Nixs and dings are easy to cover up with a markerCons:* Takes a long time to assemble all the furniture.