I've been an entrepreneur for about 15 years now and since my first adventure as a entrepreneur was in a construction related trade, I consider myself very handy and somehow capable to deal with contractors.

At first I assummed the late rent would get resolved and they would be in better shape to pay on time, unforuntatly, its been 8 months of the same late rent. 

Right now in this market the first sale (underwriting) can be a LOT harder to make on older buildings than the second one (to you the buyer) lol. 

I am an experienced LTR investor but this is my first go at STR. 

My first investment ever made was my 401K.

In the first case the money woud go into your LLCs basis in the property in the second case it is principal of a loan and not deductible in any way.

Hi, I'm looking to obtain my first real estate investment for rent. 

At first, we were going to GC the project, bring in a KP to meet the net worth requirements of the loan and raise the equity, however, I am considering just working with an operator who has the net worth requires and can raise the equity themselves and just GC the construction and ask for a 5% GP. 

I am currently living with family, I was wanting to use my first time home buyer to purchase a multi-family for my first home and stay in a unit while renting the others to start gaining some passive income.

I always recommend starting in your own market first, then go out of town, then out of state, but I understand California is expensive.If you need to create cash, wholesaling is the best alternativeIf you have some cash, then maybe do a few flix and flips to build your cash reserves.If you have cash saved, yes you can buy a rental in other markets, but you need to research and create your list of contacts in that marketYou can always buy a fixer upper, then refinance, and repeat, you can do that with favorable rates up to 10 times using loans for a secondary/investment home