who knows at the time) deal and were introduced to other players during the process.Get one good deal to the table and you likely just met several people who will help springboard your business to the next level.

My first idea was to buy something small and do short-term rentals for the days I'm not using it.I've also considered buying a tri or quad-plex or even something a little larger around 5-12 units and keeping one for myself.My other option is to buy something with a walk-out basement and rent the other two levels out. 

However, a local investor that has a couple hundred units said that I really didn't push hard enough and get to the right level of management.

Insurance costs are based on elevation level of your first floor.

I appreciate the sounding board from someone with your level of experience! 

@Bruce Woodruff I'm not sure if I understand you correctly but busy or not if you are running a business there should be a protocol for all level of customers. 

I'm unfamiliar with what would  be considered expensive, reasonable, or what levels of insurance would be necessary for our first deal. 

Price point, area/location, individual investors abilities or finances, individual investor's risk tolerance or business plan, level of rehab, etc.As an example, the 70% rule (more appropriately should be named "70% guideline), is a simple back of the napkin analysis and is NOT ever to be used to make your final purchase decision.

On September 4, our ground-level unit was subject to an immense amount of water damage from a burst hot water heater from the unit above us.

One rule is a certain percentage of affordable housing for different levels of low incomes.