When you've self promoted yourself into wealth you can buy the big apartments.

Diversity is key but it's also hard to find in an area with less than 200,000 people.

@Parker Steele, it sounds like you have a diverse background, is your education in Engineering or Marketing? 

He came up with some that were out of my price range (Fitchburg/Madison area is very expensive -- $250k around here is on the low end for C class with problem tenants).In late September/early October he finally came up with a guy who was somewhat motivated (enough, anyway)  to sell--he had just got a promotion, just had a second kid, just didn't wanna deal with the property anymore.

The problem I had, was it took 3 months instead of the 30 days they promoted and the fees (8K) were ridiculous.

Excerpt:That inherent diversity makes it a fun challenge to determine where millennials will get the most out of life, and we took many factors into consideration when creating this list, including entertainment, job growth, affordability, diversity, outdoor activities, and the overall vibe of the area.

You are the sponsor, who gets paid a participation if you hit the preferred return and a carried interest or promote at the end of the deal, when you sell.  

Hello Naeconda,As it pertains to the  the best way to find properties ,there are a diversity of different ways to find properties ,in implementing a plan to purchase properties you need to consider what amount of working capital you have,a good realtor can find you bargains ,you can also use foreclosure .com,realty trac ,these are just a few of the ways you can find bargin properties,you can also use wholesalers as well, you can also buy lists of probate homes as well as homeowners in a deliquentcy status ,as it pertains to your other question about hard money ,capitalinfusiongroup .com has a diversity of programs  for financing inclusive of hard money,we lend in all but a few states.As it pertains to the tax lien issue  most states hold auctions in which the investor can buy a tax lien ,there is what is called an equitable right of redemption period in which the homeowner can pay the taxes before the right of redemption date expires,if the homeowner does not redeem the taxes owed before the due date , the investor then can take possession of the property   

If your portfolio only ha properties that break even or have negative cash flow, then your DTI will likely suffer sooner than later, preventing future purchases.The key is to have a diverse portfolio that might include higher cash flowing properties that may not appreciate very well, and high appreciating properties that may break even, and everything in between. 

Starting out you need the leverage, you need to get someshere, $60k (one and done) no good, not enough diversity to keep your momentum on track  - need to dig deep and need to take the plunge -The first one was the toughest one for me, then I figured out the rest of the marketplace and dynamic, now this is muscle memory and I enjoy replicating the success over and over again, not only for self but for many others.