I’m ideally looking for a small multifamily property in the Tampa/St.

We are both residential appraisers working the NE Florida markets looking to transition over the LONG term to replacing our modest annual income through small/mighty single-family by buying in the path of progress where prices appear to be somewhat undervalued relative to long-term upside potential.

Primary Residence Financing: A Strategic MoveFirst Home as an Investment: Buying SmartAs many of us have heard directly from David Greene and others on the Biggerpockets podcast, the strategy of buying a primary residence every year with a low 3.5%-5% down payment and then renting the previous home when you buy the next, is a strategy that all new and experienced investors should be taking advantage of!

https://get.biggerpockets.com/multi-bootcamp-2024-pro-1/Enroll in the Small Multifamily BootcampMay 21, 2024 - July 18, 2024

It means the bank has already foreclosed and they didn't sell it at the auction, either because no one bid or no one bid high enough for the bank to accept and they thought they would be better off selling direct to a buyer on the market.

I would say there should be a few options at that loan amount - the most common minimum for DSCR lenders right now probably more like $100k or $125k - I would say only a small portion have as high a min. as $150,000

My confusion is that some advice says to work directly with the borrower’s attorney while other advice says to go straight to the borrower with inquiry/offer. 

Start by learning the real estate basics, study the market, set your goals, get a team of experts, make friends in the field, look into how to pay for it, begin small then grow, do deep checks, and go for it.

They then rent for $1300 to $1500 per month.I also have self directed ROTH IRA'S that each own houses.

I work out of state so I'm only home on the weekends, also I don't have a large amount of capital for direct mail.