This can certainly happen from raising rents and adding profit centers to the property like storage units, but it is unlikely to keep pace with the 5% to 6% long-term average level of nominal appreciation for single-family properties.Further - Multifamily properties over 4 units require commercial financing, which is less attractive.

This is circumstantial however, if you’re in a community property state, because you’re married she will have to qualify with your debts factored in as well (again this only applies in community property states).So all your liabilities, net profit on your current FHA property,etc.

Starting late literally doesn't exist.Learn and research other profitable markets!

I’m only looking for incremental steps from where I’m at now.

Some do $1.00 increments.

I have to make sure that a property will rent for more than I pay for it to make a profit. 

I seem to have 1-2 people a week now reaching out to ask for PM advice in Milwaukee and thinking we need an additional market due to 1) pricing and 2) diversification.Fort Wayne IN still works for us but is getting pricy and with lower rents maintenance and eat into profits - Would like to start converting this properties to seller financed deals over the next few years.

The seller states he wouldn’t look at anything below 475k According to BP calculators i can make a profit of 28k if I buy it at 480k which is basically my entire year’s which is what i am paying in the rent in the same bldg.

The kitchen and baths should be updated but every incremental dollar you spend over what is needed to get the property sold comes from your profit.     

I don't know what kind of deal she will come back with ($ wise), but does anyone have any advice on profit sharing, how to structure the deal, whether both of us should have an LLC set up, how money is spent, etc?