Hi @Kasra Moradi - If you're looking to get motivated seller leads, I wouldn't use Facebook as a platform to run ads to a cold audience (people who don't know about you), however, for buyer leads it can be pretty powerful.My team works with a lot of real estate agents and Facebook is great for building up your database FAST and placing all of those leads on long-term drip campaigns - it's a good way to start out and start building your pipeline...Just be aware that the leads that come through Facebook 90% of the time are NOT motivated leads - a lot of them are going to be window shopping with the mindset of "Yeah...

Single and small multi both have their merits- i prefer small multi :)Also, here's a section of a post I just made on another thread about a more detailed method of cap-ex calculation:Truly, the best method for the over analytical, is to segregate the cost of replacement vs. remaining lifespan of each component of the property & find out how much need be budgeted yearly until replacement of that component comes due.

(My income will remain at that amount until September and I don't pay for housing right now). 

Refinancing after the 5 yr term shouldn't be an issue as long as   the rental income remains stable.

As for credibility, your best way to build that is with good communication(listen more than you talk), knowledge of larger economic factors, and knowledge of  your specific market or niche, being highly ethical, and being highly motivated.

Provide 60 days notice and give the resident a choice (1) remain in their (unrenovated) unit and sign a lease at market rent (2) move into a renovated unit and sign a lease at market rent or (3) provide 30 day notice and transition out. 

Another reason I am posting this update is so that if there are any new investors out there who are just starting out and wondering if they can do this I just hope my story will give you little bit of motivation that if I can get started so can you.

Cash-flow, though possible, is generally not something you'd benefit from here (unless you do it via illegal vacation rental).That said, I would definitely buy a small condo (studio or 1-bed) for myself here, as I'd rather pay myself rather than a landlord, and IF you feel confident enough in doing out-of-state investing, leverage your remaining funds to purchase 1-2 properties that cash-flow elsewhere.If instead you'd rather keep it local, I'd use your available funds to purchase 2 condos, one for yourself and one as an investment.

That is why we make calculated assumptions about who may or may not be motivated to sell and market to them aggressively.

(FSS).This a new motivated seller list that is usually combined with Absentee and Owner OccupiedAge 40+eliminate property known to be purchased less than 5 years agoeliminate known low equitysingle and multifamilyspecify home value