Would you buy many SFH's or would you by a few 2-4 unit MFH's or would you go for the big one and use all $500k as a down payment towards the biggest MFH you could find that you qualified for? 

We have been through 3 contractors at this point. 2 backed out due to the way the payment works on this loan and one didn't give a reason just stopped responding.

So i am a 23 year old who has worked his butt off since 2020, i currently have 20k saved for a down payment and by the end of the year i hope to have a maxed out emergency fund maxed out and potentially 30k for my house fund.

The buyers of a house we flipped in 2018 are suing me personally, my LLC, my wife who was my agent, My wifes broker, their agent, their agents broker.Long story short its more of a case of buyers remorse and trying to make some cash than anything.

@Varun Hegde the guys who answered you will know MUCh better than me but I am lost and wouldn't touch this (I am not a note buyer) If I understand you are essentially getting an assignment of the rights to collect the payments, like buyiing a note.

South Florida is amazing for appreciation but I know in most areas especially Palm Beach, you will see little to no cash flow.

So, they may not be as disgruntled as you believe because they may have already cashed in on a small payday from their share of your EMD.

I would be doing this will a local partner, we would buy the distressed property in cash and get a hard loan for the renovations.

Cash flow takes good vision and great "hunting" for the deal, but it's certainly possible.  

.- Cash flow: Gross earnings are quite high and more importantly, home values continue to rise year over year.