As someone with limited capital who is looking for a MFR for his/her first purchase, I don't really see how this financing option could be a bad thing; especially if, like me, your focus is on cash flow.If I pick up a MFR on a 5/1 or even 10/1 VA loan, recycle the profits to bulk up reserves and equity then I'm paying less to make my property a more secure investment.

Even if I had not picked up the renter as a client, I would have drafted the lease for the landlord free of charge because he has purchased multiple properties using me as his broker.

https://www.biggerpockets.com/real-estate-investing This guide will give you a very thorough overview of real estate investing and help you pick your niche.Be sure to download and listen to the Bigger Pockets podcasts.

Thanks Jim I will call several before I actually pick one.

Great way to pick up some good info and possibly a deal.Download BP’s newest book here some good due diligence in Chapter 10.

Your on the right path finding a good deal is important but even more important is negotiating the price and terms.I want to help you I have a list of homes in central florida and we can l want them and pick the ones that fit your needs and wants lets connect and I will give you the details. 

I know that was discouraging....did the momentum pick up after that?

Of course you can go inner city or Linden and pick up property for under 10k, but then the quality of the tenant you'd have in that area isn't usually good.  

And our fault was that my dad picked a wrong word.

This fall I picked up a foreclosed duplex with a loan from a family member, fixed up one unit and moved in, and am nearly finished with the second unit.