I would much rather use that 250k or slightly less (as to have some backup cash) to purchase a larger 4-6 plex or higher depending on your market.

Advice: Act on bigger deals sooner and create more relationshipsDone differently: taken more action - bought more properties and held on to as many as possible (less flips), bought larger multi-familiesChoices that didn't produce desired outcomes: Side tracked on deals that didn't fit my modelHorror stories: I talked about this on my podcast interview with Joe Fairless, but not having written contracts/agreements.

The only way to get it done these days is to sign up for all the REO sites (Xome, Equator, HomePath, Res.net) and wait unless you know someone who can get you into some of the larger scale REO events to network with the asset managers.

My larger houses (with 4-9 beds in them) get one big jumbo pack of acceptable lower quality t.p. and I set it on the dining table along with towels and soap. 

In today's market, 20% could eat most of your profit, so getting your cost of money down will make a big difference to your bottom line.

There were people buying 2-3 extra houses expecting to turn around and sell them for a profit without any rehab.

I'm proposing to be added to the deed (I would have to be in order to manage, my firm does not do prop management), be responsible for getting the property to 100% occupancy, maybe doing some rehab, and split some % of profit.

@Melissa Harris, so you're asking if continuing to net $3k per year for your $4k outlay is better than netting a one-off profit of $80k for that same $4k outlay two years ago?

I plan on letting it season for about a year , selling , and using a 1031 to finance a larger MF.

Got to sell it for a small profit.