But he did take a loss that set his family back quite a bit, caused a lot of stress in his marriage, prevented them from being able to buy the new home his wife wanted with the right number of bedrooms for his kids, set him back years in saving for retirement and buying investment properties that could have made him money instead of losing money, etc.

For example we usually budget about $2,500 for kitchen appliances including dishwasher, because we rent to families and a full-size french door fridge alone will be $1200-$1400.And we usually have two bathrooms, and they take a lot of material and labor. 

I specialize in small multifamily properties and house hacking working alongside BiggerPockets podcast guest Andrew Freed to help investors find high-performing deals in Central MA.My Background:  - Started in late 2019 I utilized an FHA loan to get my first 3 family property in Fitchburg, spent about a year fixing it up and soon after I refinanced. 

I’m considering amulti-family property in the 76104 zip code of Fort Worth, TX, and I’d love your feedback to help determine if this is a good deal.Property DetailsAsking Price: $169,999 (seller says it’s negotiable).Current Rental Income: $2,400/month (duplex is vacant).Configuration: Combination of duplex and triplex units.Some units are rented at below-market rates.The duplex and need rehab.Historical Income: Seller claims it previously brought in $5,000/month when fully occupied.ConditionBuilt in 1934, so it’s an older property.Some permits were recently pulled (e.g., plumbing, window replacements, and sheetrock repairs), but it still needs work to get the vacant units ready to rent.It’s located in a neighborhood with a higher crime rate but also near major highways and areas with rental demand (e.g., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.

I have another property from a family friend that is being sold  for 150k, and the estimated value is 340k. 21 acre road front property w 3/2 bath.

Your journey from managing single-family homes to co-founding Elevate Commercial Investment Group to assist passive investors is both inspiring and instructive. 

@Heath D Wallace I hope your brother will give you the "family discount" ;-)

If you found yourself in a situation where your family's future was designed around an investment, how would you feel? 

Always be weary of the 3-4 unit buildings that were built as a single family and then concocted into multifamily.

Quote from @Alicia Marks: Quote from @Tom Wagner: Went down to the studs on a four family in Jersey City, NJ and am on pace for about $220/sqft.