You could wait to close until you have your license and rather rental arbitrage the unit from seller until then.

I'm not trying to insult you, but the terms "36-Unit Multi-Family" and "First Time Investor" should not go together.

@Jed Butikofer You need to find a market that has decent cash flow (think $200/unit/month) and become an EXPERT on that location.

The Justice Department, backed by 10 states, claims these landlords—who manage over 1.3 million rental units across 43 states and D.C.

If you have the extra cash you can buy more units or be able to handle expenses that crop up more easily.

I currently own a 4-unit in Allentown which has done quite well for me and looking to expand my portfolio throughout LVH.

I don't rent furnished and others may be able to point out where this is flawed, but I would consider renting the furniture SEPARATE of the unit because that may allow you to collect a deposit on the furniture.

Hasabout 180 units, with ground for another 40.

House-hacking in a multi-family unit is one strategy I wish I had been aware of when I chose to purchase my first property.

I'm imagining something more like add a wall, turn a bedroom into a kitchen-living on one side and a formal dining room into a bedroom on the other side, maybe add a half bath in each unit.