Originally posted by @Wayne Brooks:......and permits.don't do it don't do it don't do it.. if you can do minimal work get in get out get paid.. 

My thinking for doing SFR first was to minimize the amount of variables that can go wrong, but I'm always open to suggestions.

HMLs are for those to whom conventional loans are not suitable.Most of our short term HM loans, for instance, are like a cold shower - you do what you need to do (usually purchase, often rehab and flip, or stabilize and refinance), exiting as soon as possible to minimize the loan carrying costs.For buy and holds that don't want to use conventional loan sources, after any rehab has been done (or in the first instance if no rehab) we often suggest our 30 year fixed, fully amortized loan.

We would like to work with an attorney and tax specialist who focus on out of state real estate investing so we can setup our corporations correctly, establish the correct partnership structure, and ensure we minimize our tax exposure from the onset.Thanks again!

Remember, you're not going to get rich on your first deal but just make sure you minimize the downside risk.

I've minimized my expenses to the bare bones and am doing as many sides hustles as my time allows.

Also looking for input on loans:  I'm looking to put a minimal percentage down, which I have found around 4% for FHA loans, but this is as a residential mortgage. 

. ($350-$500k with minimal cash flow after NOI - Debt Service).Is Austin that hot of a market, or am I not looking in the right areas?

Ive got my eyes on a 120k fourplex in my area with a fairly decent cash flow. However the specifics of the deal aren't the important part of my question.I'm 18 years old and this will be my first property if I'm able ...

It just may be risker to move all your investments into a new state or area that may have a minimal return.