My client just closed on a 4 plex with his VA loan 3/6/23.

I’d like to have a diverse real estate portfolio (single family, du/tri/quad plexes and a small 8-10 unit multi family) and then see what I enjoy the most. 

Here's my experience so far:We were after a 5-plex that was having trouble selling.

I am a first time real estate investor looking the following property : https://www.redfin.com/OR/Forest-Grove/2418-Cedar-Cir-97116/...its a pretty large duplex in Forest Grove OR,  the trick is though, its on a lot zoned for a 4 plex so I am lookinginto house hacking, converting into a triplex, then living in one unit while renting out the remaining two unitsThe left garage has been converted to living space, with a living room, half bath, a laundry room with a sink and some counters/cupboards and a bedroom, it is a part of what was an existing 3bd unitIf I were to acquire the asset, I would first attempt to convert that space into its own unit The line items as I see (be in mind, I am totally new to this) would be to >put up dry wall where the door to the rest of the house is,>add a shower to the half bathroom >install a water heater in the adjacent 3bd unit> install a kitchen in the laundry room, (stove , oven , sink, counter space)>add a shower to the half bath Assuming I can convert it to a 3plex, I could at-least cash flow on my investment after I leave My plan would be to put minimum down payment of 3.5% (FHA loan) that way I can have a decent amount of capital free to do the renovationsThe only concern is when I crunch the numbers to get my ROI, I have no idea how much its going to cost to convert the additional living space to a third unitAny experienced investors here know how I can estimate this before I try to make an offer?

I'm looking to house hack a tri or quad plex in Louisville, KY, and a lot of the properties I am looking at are zoned for single or double family.

I've done multiple ADU's in CA and have 2 in process( one is a triplex turning into a 4 plex).

We don't really want to go back to living in an apartment or multi-plex at this point in our lives.

Purchase price: $340,000 Cash invested: $209,000 1031 exchange from Killeen 4-plex into a 6-unit apartments.

Purchase price: $340,000 Cash invested: $209,000 1031 exchange from Killeen 4-plex into a 6-unit apartments in Wortham.

@Amy Wei Ru ChangI would suggest looking out of state if you are wanting to invest.Here are the type of deals we have here in Fort Worth4 plex for $549K 4 units rent for $4,400 total rent Duplex for $310K both units rent for $2,800 total rent (RIGHT BY TCU CAMPUS)With $500K you can do quite a bit here!