@Pete Harper often times sellers won’t provide actual financials until an LOI (letter of intent) is submitted and accepted.

Although I do not agree that I was being racist, it has never been my practice nor intention to get into a name calling incident, so that post he found offensive was removed.

So I don't get too far beyond the intention of the original post, I'll close out by saying, "Yes, I absolutely would consider buying for nothing but cash flow, as long as the return justifies the expenditure of cash and effort."

Most states require a registration if you own property with intent to rent it out.  

I don't see us ever going Mad Max with small sparse isolated groups of people huddled together in tents, and tumble weed blowing across the empty parking lots of large unoccupied apartment complexes. 

If you want to spell out the broad outlines, just write up a short memo/letter of intent that describes the kind of loan terms you'd be agreeing to, and use that to translate into the actual lending paperwork.

I do want to add a piece that often gets overlooked or intentionally ignored on the forums here: while we are all here to make money, vacation rental investment is about selling a experience rather than just accommodations.

Hello,Does anyone have experience with purchasing small multi-family properties that are professionally managed with the intention of self managing?

Heres a backdrop on my situation.1) I bought my first house in 2014 not knowing what my intention was other then that was the smart thing to do (haha).

I Saw the opportunity, went to see it in person, made a 10% lower offer with a letter to the owner about myself and my intentions with the property.