You can also get owner financing a s a first or second or other mortgage position.

I'm in Saratoga, nothing would come close to positive cash flow here...

Hey Chris,Congrats on taking action.

But a lot can happen between now and when I get the keys back.I'm kinda worried that he's just gonna stop paying rent and I'm going to either have to wait until the lease ends to start making upgrades or take legal action and evict which is going to cost me more money.

So cash position is important.

@Lauren Perry great questions, and good position to be in. 

I’m currently working on improving my financial position as to be ready to purchase a small multifamily property.

It is incredibly common for properties in your area to go for over asking2. you are confident it will still appraiseor3. you are comfortable with and ready to compensate the difference between the appraised value and your offered amount in your down paymentI don't think hoping the appraisal will come in low so you can negotiate down after the fact is a solid strategy or a strong starting position.

Taking action is obviously important but doing it blindly is VERY dangerous. 

A good attorney can penetrate your bad actions 90% of the time.5.