I am seeking to acquire some rental property, ideally multi family.

And then figure in another 10k in closing costs.You don't always have to go the "multi-family" route for a smart first investment either.

Multi family and Airbnb are pretty different businesses I think.Good luck!

Right now I am thinking about multi family homes that provide good cash flow and slowly moving up, basically using plan 1 from THe Book on Rental Property Investing, chapter 3.

I've personally done and am doing a hybrid of rehab projects and purchasing multi units for long term cash flow. 

The plan is to start moving towards multi family very soon to build that residual income.

My goals consist of purchasing more single family and multi family properties, while building solid relationships with many of you great RE minds along the way. 

Multi family? 

So it would stand to reason that there is some opportunity to do something (some degree of improvements) to the older/existing MF properties out there. 

Otherwise, some book recommendations (these include mostly books on business/lifestyle or buy/hold investing):- "E-Myth Revisited" by Michael Gerber- "Rich Dad, Poor Dad" by Robert Kiyosaki and Sharon Lechter (this provides a more foundational perspective on money)- "Cashflow Quadrant" by Robert Kiyosaki (further builds on the "Rich Dad, Poor Dad" foundation)- "Set for Life" by Scott Trench- "Long-Distance Real Estate Investing" by David Greene- "The Book on Managing Rental Properties' by Brandon Turner and Heather Turner- "The Miracle Morning" by Hal Elrod-"HOLD" by Gary Keller (geared toward SFR)-"The ABCs of Real Estate Investing" by Ken McElroy (geared toward commercial investing)"Multi-Family Millions" by David Lyndahl (This is on my list of "To-Reads".