I would like to meet the requirement of spending over 100 hours on it yearly and spending more time than anyone else. 

But I think they'd be around $4,800 (conservative estimate).Seller is also claiming there are no common electricity at all- which is hard to believe, considering there's common gas, water and sewer. and most likely a common area electricity.

You could then get a HELOC/LOC on that paid of property (a product that doesn't require you to use it) and then if you did have a big emergency you had a line to use on it.Now, ALL of this is dependent on how much money you have in the bank, how many properties you have, what your income will be like in retirement, what the standard age would be for your end of life (that's a scary one to think about), and while yes, you can certainly take equity out I just think it would be good to sit down with a financial planner...or even some other investors that are local to you that are around your age demographic and see what they are doing.I'm glad you are thinking about this for sure.  

I bought 11 houses in the last year that cash flow well.

Looks like we will need to wait it out.

Consider looking into markets in the Midwest as well.

something like that:https://www.biggerpockets.com/... there is a thread like that usually for each city ?

I would like to buy a multifamily property within the next year with my younger brother.

They’re well written, seem to be well researched, and always timely.  

If the tenants have a pet, like a dog, it’s worth discussing, as pets are a common source of fleas.