So when you hire that able handyman and give him keys to all of the apartments and the security codes without learning that he is 90 days out of prison for breaking and entering and committing assault and kidnapping your umbrella coverage may not help.And, these days, a million dollars of coverage will deal with the contents of a small truck that you sideswipe and it bounces around a little with the electronics inside.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years. 

Our long term plan is to ease into real estate investing or being a small landlord with minimal headaches or complications.

Why do you think purchase contracts are so long and have such small print?

I own a small multifamily commercial in Albuquerque and can confirm the diversity of the economic and cultural factors that you mentioned. 

In my area I often come across people who never used credit much and only have 1 small negative thing on their report dragging their score down. 

Although most such fund operators only deal with accredited investors directly, you may also be able to find some among the crowdfunding sites.  

Fortunately its a pretty small roof. 

Are they a broker or a direct lender?

Here’s my recommendation to get it under control: For a quick fix, start by sealing up any gaps using acoustic caulk around outlets, baseboards, or other small openings.