Not sure how much, some of it depends upon what your limits are but depending on how many cards you have you’ll get a bump with each one that’s paid off.

Jack,Depending on where your comfort zone is there are a lot of great 2-4 units Multifamily rentals in other states that offer great rents at a lower price point. 

As long as you are negative cash flowing less than what you would be paying in rent, it makes sense (this depends on your market; I am in Austin, and nothing here has positive cash flow).

In fact, the willingness of a bank to negotiate on the price of an REO property can vary significantly, depending heavily on factors such as how much was owed on the property at the time of foreclosure and the bank's current inventory of REO properties.When considering an REO property, especially one that requires significant work like adding a bathroom to make it comparable to current 3/2 homes in the market, it's crucial to do thorough due diligence.

I have a few places that I personally favor and some that I don't - but it all depends on what your goal and strategy is. 

Depending on the strategy MANY technical skills can be involved from the trades going rehabs and repairs, legal, financial, project management, etc etc.

I would expect a 7% appreciation in property value per year is also a feasible target - this is dependant on where you will be living.I have found multiple properties that are close to fitting this build for another client just this week.I would be pleased to connect with you to discuss further if you would like.Respectfully,Chris

 There are advantages to both depending on your situation.

This probably depends on the level of sophistication of your investors, but I would consider this a kind of "incremental analysis", similar to an incremental IRR calc that could be run on a staged investment. 

So it depends on your goals and what you want to accomplish.