First deal....save/bank as much cash as you can between now and 18years old. 

DSCR would be an easy option to go assuming you're looking for a long term solution.

After fixing it I would then like to rent it out and get tenants in place, and then refi to a conventional loan without doing any cash out.

I'm sure you could...as long as you're actually paying that expense to someone...oh wait, that person would be yourself...so you'd need to both record the income of you paying yourself as well as the expense of yourself paying you. 

That would NOT be enough for me to buy 100 units unless it's a incredibly low price, then work on filling the site with long term RV tenants while I wait for the new reactor and cashflow in the meantime.

Tips include finding multi-unit properties, living in a unit for a year, property management planning, budgeting for repairs, networking with local investors, and focusing on long-term goals.Good luck!

I’ve already texted the seller for more information, including how long the daycare has been there and how much the woman is paying in rent.

Hi @Jennifer S.Since it would be a long-term investment, I would definitely consider setting up 3 different meters.

The terms may vary by County, but if you go to the webpage for the houses you are interested in bidding on that are listed on Auction.com, at the bottom of the webpage in Section 4.

I’m not sure if a JADU will affect the house’s value, but since I just bought the house in May and plan to live in it for 10+ years, I'm happy as long as the garage can provide a steady cash flow to help offset my mortgage payments.