But I definately don't want to finance $50k in Renovations when I can pay for a lot of it out of pocket. 

@Marcus Cox @Chris Eaker @Luka Milicevic Marcus i can make some suggestions , but you haven't really defined exactly what kind of multi family youre seeking.

First step - define your investment strategy both short term and long term and establish a timeline and plan to accomplish your first investment.Second step, learn your target market a d your numbers.

Definately made my fair share of mistakes.

Thank you, this really helps define some of the trending that is happening now.

There is no legal problem with that ownership structure per se other than the fact that you are creating a Security as defined by the SEC.

Everybody defines success differently and young is all about perspective.  

You can generally define compensation as including all the following payments.

The general rule is assets are broadly defined and the law wants to bring in as much as possible into the bankruptcy estate for distribution to creditors. 

So it's not just a ratio used to define a good purchase, it's just if the cash flow suites your needs and you can buy at a discount, that would generally be a good buy.