.-20 year amortization-30% down payment-interest rate that was higher than the rates for single family-5-7 year balloon-net worth requirements to qualify for loan, had to have net worth equal to property value-required to use third party property management, even though I already owned and managed several other rental properties-more costly inspections and environmental reports neededThese are factors to keep in mind when investing in multi-family, especially as a smaller investor.

Beyond that selecting a competent management company would be an important component of the process.

But by BP standards my guess is the numbers when we buy are ok at best, but they have turned out to be good investments because of the value add components that we focus on.

Are there environmental issues?

If all major components were replaced / repaired properly, then buyer should be good for a while without incurring major CapEX. 

@Chris MooneyHi Chris, I think the benefit of putting a plan together - not gonna lie it does take some time :) is to do that mental work and see what you're missing in your plan, thinking through the components and realizing what needs further refinement.

If one is starting out in a house (live first for a couple of years then sell or rent) that needs work (structural and dated components), what do you recommend?

Their body wash is great, smells good,  and the big bottles last a long time and are more environmentally friendly.

Note: current politics and environmental factors (COVID, unemployment), make the gamble more risky today than last year.

The majority member wants me to take the land for $1, and assume the environmental and back property taxes of $52,000.