It's all in how conservative you are in your approach to underwriting your deals.Even when a Seller says they've improved the property, the tenants are still tenants and do damage to brand new improved units. 

I would recommend that you focus on which area you want to eventually settle down in.

Looking forward to seeing your progress—this community is a great place to learn and grow! 

I live in 2 - small mountain towns out west and small beach communities in FL.

I think the right investor would do 2 units long term one unit short term. this strategy allows you the greatest flexibility. we are also developing an extended stay hotel that's 58 rooms. the size of the average room in that is 216 square feet and rents for a target $80 per night. our development cost per room is 100k per room with hard construction. the smaller you go the more money you make. if I was to suggest anything it would be to focus on the smaller part of the market and on multiple unit dwellings and finding and identifying markets that meet similar numbers. that will probably be midwest markets.

I did find this deal driving driving for dollars, the realtor of the property was adding his sign in the front yard, I approached to make and offer. we close in 3 weeks.

If you’re looking to finance a rental purchase, a DSCR loan could be an option, as it focuses more on the property's income rather than your personal credit score.In the meantime, you can get your current property rent ready while also working on improving your credit.

Hi Calvin, if is it listed with anyone, it may have a similar address and a realtor posted your address by mistake,This happened to me a few months ago whereby I own a condo in a community that has 3 building and I own A6, but they were trying to list C6 and only added 6 to the MLS listing lol.

My plan is to mainly focus on cash flowing properties that make the 2% rule. 

Leverage Local ResourcesEconomic Development Grants: Check with your city or county for grants or incentives aimed at affordable housing or community improvement projects.Local Banks or Credit Unions: They may be more flexible than larger financial institutions, especially if your project aligns with community needs.Partnership with Nonprofits: Collaborate with organizations interested in affordable housing or sustainable living.4.