Still deciding..In Seattle or LA or even Miami I could not get 3% cap on similar homes (each one I own is around $60k and I have 2 duplexes full remodeled at $130k each... insane cash flow with no headaches).

@Paul GiblinIf you want to minimize your risk you should consider a 3-4 unit because your monthly cash flow will be greater than a SFH.If you buy right you can have 1 unit's rent almost cover PITI which eases my mind especially in these difficult times.Couple a 3-4 unit with section 8 vouchers and you are really cooking with heat as HUD pays rent directly into your bank account on the 1st of every month which also reduces your risk.For example I manage a 3 flat on West side and PITI with h20 and electric of $1400 a month that pulls in n $1328 and $1330 completely paid by HUD, and then another unit which pays $1325 totally paid for by SSI, so basically rent is guaranteed unless US government stops paying which inho is highly unlikely.If you add up all 3 rents it is $3983-$1400 PITI minus expenses (not including repairs capex or vacancy) there is still $2583 for cash flow minus repairs, capex and vacancy which I UW as 5% each for repairs and capex and+10% for vacancy which leaves $2066 for cf each month.I can sleep at night knowing that as long as I am competent enough to at least have one unit rented I can basically cover my monthly PITI.This strategy might not work for everyone but it works for me.Bottom line-you need to find out what niche you are comfortable with now and then take action.Your strategy may change with experience and time, but it is important to get started.Hope that helps.

you got it2-4 unit on a conventional or FHA loanpreserve your capital when starting outlook for something that needs cosmetic work but has heating/electric/plumbing with plenty of life left...

The owner says he had secured a judgment for eviction before Covid, which is now set for October 17.I am thinking of putting an offer below asking contingent on the tenant eviction process completion.Here are the property financials:Rents: 1bd/1ba $1,743/mo 1bd/1ba $1,460/mo4bd/1ba $3,400/mo2bd/1ba $2,386/moTotal: $8,989/mo or $107,868/yrLaundry: $2k/ year2 story-garage on property, est. rent to a contractor $300/mo or $3,600/yrSum Total less 5%vacancy: $108,154/yrExpenses:Assume $5k/yr in repairsTaxes, Insurance, Electrical, Heat Oil, Snow Removal, Water & SewerTotal $37,726/yrNOI: $70,428/yrDebt service: $55k (FHA 3.5% down @ 3% interest rate + PMI)Est.

I currently reside in Miami Beach.

Miami, LA, San Fran, Seattle, Boston come to mind

I built a wood fired water heater to heat my above ground swimming pool.

Description:7 duplexes, 2/2 with 1 car attached garage (one with no garage)built in 2001B+ class neighborhood, steady rental a lot of multifamily in the areaall on the same cul-de-sacwood frame, 2 story, vinyl sidingtaxes $3144 yearlyinsurance $800 yearlytenants pay water and electric (electric heat)currently fully leasedAmateur property management, one tenant manages propertyBack of the napkin calculations:Net Operating Expenses (Per duplex per month):Taxes: 262Capital expenditures: 100Property Management: 170vacancy: 85insurance: 66Total Expenses: 923 (11,076 yearly)Gross Rents: 1700 (20,400 yearly)NOI: 777 (9324 yearly)asking price: 185000cap rate: 5%

I graduated from Miami Unviersity in 2018 with a degree in finance, and currently work for a top property and casualty insurance carrier.Real estate has always been an interest and an itch I have wanted to scratch, but never knew where to start.

The home was built in 1929, has baseboard heating.