However, after meeting with a friend who has real estate experience he mentioned that he predicts in about 12-18 months there will be a downturn of the market and an influx of foreclosures due to the pandemic forebearance.I now feel like our momentum and excitement has come to a screeching halt and I am unsure of whether or not to invest in this market.I understand long term the market works itself out, however, if I bought this multifamily unit on my current income, I cannot afford for the rental market to depreciate as well which is my fear.The mortgage would be about 4K.

Once you get past the zoning hurdle, its important to engage an architect who can lay out units.  

I specialize in small multifamily(2-4 units) deals both as an investor and agent. 

So, rent did not start until April; I lost 2 months’ rent but this went about as good as I expected.For all the properties, OCF does require a reserve of $1000 per unit.

I would suggest first looking into buying a 5 unit multifamily building, and then another the year after.

Instead of buying 2-4 units buy 2 units in a BTR community. 

And building a 2-4 unit is possible in one of those scenarios as long as your lender can do it.

There will have to be 750 between units and owners will need to register them and display their registration in a prominent place in the property.

Hi BP,We just purchased a mixed-use building with 7 units of retail on the ground floor (13,000 sq. ft.), office above (13,000 sq. ft.) and a really cool basement (8,000 sq. ft.).We bought the building vacant except for one tenant, a nail salon.

I have our own home split into 2 and a 5-unit building.Cheers,Thomas