. $4200 - 1200 - 700 = 2300/mo cash to improve the property or pay down the loan.

Before I ask my first question, i figured I'd introduce myself and give you all a brief background of myself.I'm a middle aged, family man, searching for financial freedom.

Just after, the book talks about improving the property so rent brings in more money per month/year, which increases Gross Rent Multiple. 

I agree, improve it now as if you were planning on selling.

Dud to this I dont recommend getting too many quotes during your search.

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After you've done some strategic improvements and built the tenant stability, you can sell the property and roll the equity into another with no out-of-pocket down payment.

We will be raising rents to market value and improving the units to a more modern look.

I am in search of a knowledgable attorney who understands fair lawn rent control ordinances.

I feel like I could be pretty resilient from investing in the stock market for a few years but I guess I will never know if a bad deal would permanently scare me off or not since I've never owned a home before.Do you think rather than finding an amazing deal it would suffice for now simply to find something that could reduce what I would be spending on rent somewhere and then continue to search for good deals?