They will sell their home and parents home and with proceeds provide a down payment, The rest of amount would be a lease-purchase.

Hi BiggerPockets community,I have spent some time and been successful in the residential market (flipping homes) and wanting to diversify my real estate investment portfolio by venturing into rental apartments. 

It's been my family's weekend home for the last 9 years.

However, I am in escrow to buy a home, but my plan with this one is to rehab and turn it into a midterm rental as my very first buy-and-hold.

The renovations were completed efficiently, and we successfully sold the home for $270,000 on 01/10/2023.

Can the property repay with cashflow (not typically looked at for SFR but for 2nds we do on properties like mobile home parks with super low LTV, we have to know they can pay off with property income and not a refi since most bank loans I've seen on these asset classes is closer to the 50-55% LTV mark.)Just a few thoughts off the top of my head.

I am extremely handy with a vast collection of tools so can perform improvements myself.

I personally just attend 1 to 3 auctions in my home state of SC.

Sounds a little confusing because you cannot use any single family loan to convert a home into a 4 unit.

Here are the full stats for Austin and the greater metro:Here’s a chart showing the median sales price of a single-family home in the City of Austin this year through July:The median sales price for a single-family home in July 2024 was up roughly 12% from the beginning of the year.