Seems that the issues boil down to ensuring you have the right people/support in place (contractors, property managers).  

In my experience - albeit in Connecticut, and not Washington - is that anything in the area of 1% "rule" makes it very difficult to see significant cash flow - AKA not enough money to make it worth it!

Hey guys, I been following Grant Cardone, read the "10X rule" "Be obsessed or be average " etc but I feel like the Grant's message is a bit contradictory to what our BP contributors are suggesting(start small and work your way up).

Go ahead and give bad advice.You're simply repeating yourself and becoming tiresome, without offering any actual evidence to support your position.This is actually a fascinating idea.

5) Do you guys have any number rule on multifamily properties, like the cap rate must be at least this or something like that?

Again leveraging your PM skills and passion, you can partner with others to tackle multiple deals and be an active investor to support your living expenses today. 

. = $5510% MGT fee = $110Mortgage = $253, 20 year amortization @ 5% Taxes $116 per moInsurance $75 per mo total = $719 per mo2% rule = 2.20%Capex = 15%CoC = 33% (turn key, est rehab to be $1000-1500 - new appliances, needs a few new doors) , $2000 closing costs, $10,000 down payment) The duplex does only have 1 furnace and 1 water heaterMonthly cash flow = $381 Am I missing anything? 

I spoke with my lender and he told me FHA recently changed their rules...he said if I already own property then I can't get an FHA loan for a primary residence (even if I have 20% equity in the rental properties).

I hope this is not interpreted as a solisitation I know that is against the rules but I do have a question on my primary residence.I have had problems in the past securing loans because of my lack of W-2 income.  

The students would just be sending rent checks to a different address, and it wouldn't really affect them.My recommendation would be to invest in whatever property the numbers make the best return for you, and focus on supporting students in a way that will have a bigger impact on them than being their landlord.