If you are not you need to save more money. 20K will not go very far on a property fi you are not going to live in it. 

Nice that your first property is a 6-unit.

We are just looking into ALL the things before diving into purchasing an investment property and have a question for a mortgage broker or anyone who may know.

I know this is more of an investing forum, but I figured I'd reach out and see if members with an investing background would provide advice.We're preparing to purchase a vacation property in North Myrtle Beach.

I've been waiting for this property to come up for sale.

I have some pre-written advice for beginners, people asking if they should set up an LLC, how to find a property manager, etc.

Are you looking for your first property or do you already own a unit or more?

.:  So we got a call from our property manager and said that the toilets were backing up. 

when underwriting a property a good rule of thumb would be to set aside ~5% gross income for each Cap Ex, maintenance, and vacancy. (15% total)I dont know much of the market in TX but in central MA i work with a lot of investors that are interested in acquiring multi family properties so that's mostly what i deal in. 

I find it much more useful when you have multiple properties.