My longer-term goal is to acquire buy-and-hold properties with a mix of SFR and smaller multi-families as it is advantageous to do so.

My longer-term goal is to acquire buy-and-hold properties with a mix of SFR and smaller multi-families as it is advantageous to do so.

I am definitely going to ask a lot of questions as I start acquiring more knowledge.

A word of advice is to start contacting banks about a mortgage ASAP, as it will definitely be tough to acquire pre approval with only a year's worth of salary.

If you don't mind me asking, how did you acquire your private money?

If your plan is to acquire a {distressed} under-performing property, renovate/rehabilitate, bring it into performance, then pull out your forced appreciation to acquire another property, then, you should use a variable rate mortgage product as you will incur the least amount of penalty for refinancing (maybe none in certain scenarios).Consider a mixed fixed-term mortgage / HELoC product on one, or more, properties.

I do not know if that helps give you a good idea but I'd like to know if it's possible to acquire properties by negotiating seller to sell before it goes to foreclosure.Thanks

And then after acquiring a few SFHs, possibly trading those up for something with a great cash flow (duplex/triplex/etc)?

It's not clear if you pay the $10k and then have to also invest in the assets with additional money or how the assets which will be acquired as vehicles for your profits are actually paid for if you give any portion of that $10k to the mentor themselves.

You should also figure out financing, because (I'm in the process of doing this myself, by the way) a hard money lender will cost you more than conventional financing, cutting into your profits.With the information you've given so far, I think it's a good buy at 25k, but I would probably try to acquire it for 20k, since I'm not sure about your financing and expenses.