I also didn’t have direct access to him, so if I needed immediate counsel on how to handle a situation, I had to email him and wait to get a response usually a few days later, and by then the deal was already mishandled.

@Andreas Mathews admirable, but make sure you do some research so you understand what a PM can make.Starting your own PMC business will require 75-150 doors to make a decent living, depending on gross rents and your fee structre.Working for a SFR PMC as a PM, will require a RE license and you usually get paid a percentage of the gross rents the portfolio of owners/properties you manage generates.

I know they have a cap at 10.We have also looked at using local banks in the area but those terms are usually 3 years arms to ten year arms and 20 year loans so it lowers cash flow significantly. 

Property TypeUnderstand the different types of multifamily properties:High-Rise: 9+ floors with an elevator, often urban.Mid-Rise: Smaller than high-rise, usually with elevators.Garden-Style: Low-rise apartments in suburban or rural settings.Walk-Up: 4–6 stories without elevators.Manufactured Housing Communities: Mobile home parks where land is leased to homeowners.Special-Purpose Housing:Student Housing: Designed for college students.Senior Housing: Dedicated to older adults.Subsidized Housing: Affordable housing supported by rent and income restrictions.3.

@Chris Collins  Tenants usually pay all utilities. 

I think it's usually good to try to scale, so I like the idea of trying to go from 1 to 3. 

While flips don’t usually qualify for 1031 exchanges, holding a property as a rental first might open this option.

Can usually allot 5-10% vacancy factor and same for maintenance.Class B usually also okay, but needs more attention from owner and/or PMC.

Coming from a family of lawyers the ones in my experience that make less than that are usually just not that motivated or are not that good at what they do.  

Sometimes 5 in the case of 9% LIHTC deals but all the way up to 15 as I’ve seen in 4% deals.  9% is competitive meaning there’s only a certain amount of projects awarded each year by your states HCR.  4% is not competitive and is usually more appropriate for large projects because 9% will get allocated to projects of smaller size so as to spread the benefit.