I always thought the "worst" part of it were the relatively low returns, and I see why that is not very appealing to newer investors, but I definitely see it as a viable option for investors who already have exposure and are looking for something that is less hands-on.

Some people have $35,000 to throw around, but I definitely can’t afford to waste money like that.

I'll definitely play it safe.

If there are newer multifamily properties near you (or properly renovated), definitely something to consider! 

Definitely filing that under “things I’ll do differently next time.”About the appraisal discrepancy—it’s frustrating, but you’re probably right that it’s not a huge shock since I didn’t make any changes to the property.

And you definitely do not need a license to be an investor.

So if you define a motivated seller to be someone that is willing to sell their house below market value (which is the ONLY definition of a motivated seller), you will then realize it is very different from:"A motivated seller is someone dealing with a foreclosure, tax lien, inherited a property". right?

While profit is undoubtedly important for any business, a property management company that prioritizes customer satisfaction—both for owners and tenants—often leads to long-term success.For property owners, a good property manager is definitely worth it because they bring peace of mind, reduce risks, and often save money in the long run.

The ones who bought cheaper properties trying to fix up had mixed results with one getting hustled by a contractor and definitely going into the red.

I invite you to perform the exercise and find what your cap ex allocation should be.certainly $50/month for maintenance/cap ex and misc is not enough and this property is definitely cash negative when properly allocating for expenses.