But my topic comes from listening to a small panel (two operators), both with multifamily portfolios in the billions.  

I also like to make it a condition that the seller deliver a couple of days before closing an Estoppel Certificate from the tenant where the tenant confirms:  (a) true and accurate copy of the lease and all amendments thereto; (b) address/unit they are occupying; (c) statement that Landlord is not in default under the Lease: (d) statement that Tenant is not in default under the Lease; and (e) statement of monthly rent and remaining term.This protects the buyer in the event there has been a subsequent written or verbal amendment of the lease (that the seller does not disclose) and prevents the tenant from making statements to the buyer/new landlord that are different from the terms of the lease that was provided to the buyer from the seller.Vivian

Each unit is a 3/2 with 1100 sq ft each.

The PM doesn't seem to be doing a good job of screening tenants and with multi unit buildings if one tenant gets away with not paying the rent, you can bet they talk to the others who then do the same.

I used to have 15+ units here, have been selling them off and going into a different niche.

We weren't thrilled as the unit won't pass easily the section 8 inspections in the current condition, and it's also extra work for us. 

Look to invest in other marketsTexas market has a 4plex that rents $1,100 per unit listed for $549KDuplex close to TCU that rents for $1400 per side and sold for $300KProperty with a main house & back house that is listed for $299K total rents are $2,755 ( my listing)If you are serious about RE investing I would look else where if those are the ROI you are getting

Hi Heather, Your lending options can vary greatly depending on what type of property you are looking at. 1-4 units, 5-10, and beyond will have different types of lenders and more importantly different loan options. 1-4 you will have the options of FHA/local banks/conventional.

South Shore in particular has very large 2-4 unit buildings from what I've seen.

30 year fixed, low interest rate DSCR BLANKET loans (put multiple 1-4 unit properties under one loan for cash out or for purchase).Ground Up Construction loans for aspiring developers with NO Experience100% Financing on Fix and Flips (just pay closing costs and prepaid taxes/insurance)Fix and Flip financing that requires no appraisalHELOCS on investment propertiesBuilder's Forwards (for medium to larger developers who want to hedge interest rates on their properties they plan to sell so they can offer "low builders rates").DSCR loans for long term AND short term rentals (I think this is becoming more and more common, but some people have still never heard of this).And so much more!