First, networking with experts is crucial.

I don't all sleep well with debt, so I'd pay down debt first.

Yes typically, but generally should be possible to do one with no prepay or very light (say 1% if you prepay in the first year). 

Hey BP, I am getting close to purchasing my first multifamily investment property.

Currently I have a duplex in Madison, WI and am under contract for my first flip.Outside of real estate, I enjoy mostly time with my kids as they are young! 

So, is there anyone on here with first hand experience in navigating the process?

I’ve learned over the years that’s it’s best to get the most thorough inspector who is the doom of gloom as opposed to the inspector I had on my first deal where “nothing was wrong” and then once we got into the cosmetic rehab there was $50,000 worth of serious repairs needed.

With that in mind, I would ignore that aspect.That said, I always like using the cheapest money first. 

Thank you very much for that answer I will look into all of this further.In your opinion should I first line cash buyers for deals like that to understand if they use any finance at all or buy with cash?

First one I closed in December 2023.