I’d recommend running your numbers with these extra expense assumptions to see what actually pencils out.If you’re worried about budgeting for capex, you can either buy new construction (which, if built well, won’t require capex for at least 5 years) or work with a turnkey provider, who will budget capex items for you on their end.In any case, my experience is that deals in Alabama and other Sunbelt states are still working out, but higher cost-of-living places like Fayetteville or Austin are probably out.

I am very interested to start buying multi-family Real Estate. 

You buy, reno, then rent.

Do not be one of the people who wait and hope that rates will continue to fall into next year.

The assumption is that people don't pay taxes on properties they don't own, but you may find trustees with knowledge of the property too. :)

The Core Strategy: "Think long-term, buy and hold, and focus on cash flow."

My clients from NYC buy only MF properties.

What matters is that you're about to buy a property that will help you offset your mortgage in a big way, shoring up your reserves that you can then use to buy another in a few years.

I have seen it both ways and I think from the responses above many people here do not agree on a set standard.

Because he/she will know the process of buying / selling properties so they can be better suited to ask you the right questions.For example, since I acquired properties in the past, I know the ask clients if they got a home inspection/appraisal / survey prior to closing on the property.