@Dmitriy Fomichenko nice, detailed response!

It's a 2600 sqft home in a nice area but the schools are not the best so the renters I am getting are multifamily situations.

Hi Ali, nice to meet you!

Unless you are willing to go to a not so nice part of town or fix up and force appreciation it will be very hard to find one.

But 400k for 5 units seems steep unless its in a really nice area. 

The super nice thing is that both sides are fully plumbed for a bathroom and are completely dry walled, the occupied side even has a fully finished BEDROOM that isn't being counted because they don't have an egress window down there! 

Now, if I take a reasonable valuation of about $1.1m (the slightly smaller, less nicely renovated house literally two houses over sold for about $1m a year or two ago) and throw that into a mortgage calculator with 20% down and comparable taxes/insurance, I get about $4,500/mth.

It's nice acquiring all kinds of information about real estate, but I have so many questions about my specific market.

Super nice guy and willing to take the time to talk one on one.

Hello everyone,My dad wants to give me his rental property, a pretty nice 3/1 in West Miami.