One strategy to consider is house hacking, where you live in one unit of a multi-unit property and rent out the others.

Attempted to buy a small 4-unit MF with FHA.

Some municipalities, such as Jersey City, Hoboken, and Weehawken, will not allow you to raise to market once the tenant leaves, and it's now a vacant unit.

I own a multi-unit mixed unit in Trenton, NJ.

The dreaded compressor death on an old AC unit is forcing me into a full system upgrade.

Has the potential to add a 3rd efficiency unit with a 90% finished 3rd floor.etc. etc.Here's the problem...The sellers of the property offered it to me for $200k if I could get financing.

I managed to get 1 8 unit and 1 6 unit building over the last few months and have done well with them.

Can you actually just create 3 STRs off that unit?

I have seen referral offerings from PM companies ranging from $500 to half of first month's rent to full first month's rent going to the agent for referring a client.PM isn't as common within my niche of small multifamily (2-4 unit) properties in New York but this is what I've seen.A quick google search shows that $250 is a common referral fee.Curious to see what other agents across BP are seeing...Hope this helps!

In NJ I believe they will do up to 30 units total (max of 4 units per bldg).