It can be done but it may take years to build up cash flow especially if you live in high cost area like CA.   

Backstory - we have an apartment complex that had a $339k loss on paper last year (I'm a 40% partner).

One highly effective way to find off-market deals is by leveraging trained VAs to handle lead generation and outreach.

With today's high interest rates, it usually doesn't make sense.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

I need long-term renters as a back up.I saw a basement apartment for rent in LauriaVille in a gorgeous remodeled home that’s been listed for $1050  It’s been sitting there a couple months and that concerns me because that’s not a lot of money for quite a bit of space in a great house.It’s been sitting there a couple months and that concerns me because that’s not a lot of money.

I'd highly recommend Matt Scott and his services to those that are serious about raising money.Jorge

Normal mortgage rates are in the high 6's now, for a personal residence, and higher for an investment property. 

In fact the demand is stronger than I've ever seen it, though prices are high.

And in those events prices can rise dramatically!