WilliamHave you considered buying a multi-unit property and living in one of the units? 

is there a reason for it in multi family?

Do a couple of deals with normal timing, pay the lender back, then share the bank owned scenario with them, they might want to partner with you.And in the 17 years of doing business, I have never had a private lender ask for a credit report, an appraisal or an inspection, they did, however, want to see before and after photos and profit and loss sheets of deals I have done (a few of them anyway) Once you build up a reputation of doing deals and using private money, you can get funding fairly easily for regular closings and build a track record with those lenders and they might fund instantly at the courthouse steps

I personally believe new investors should avoid partnerships/multi-member LLCs as long as possible.

I found a property where I live that I could afford almost with Cash. However, I am not sure if I should do it or not. I know I could make roughly $400/month if I put 50% of rent away for unexpected costs. I am new to...

If you are referring to "commercial" as in multi-family, I would suggest you choose an attorney in the state where the property is located.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Tacoma.

Finding multi family units constantly.

I have developed a question though: What are the pros and cons of buying your first property (multi-family) out of the state you live in?

@Stephen Sparks you’re on the right track.