:1)Find an investor who would double as a source of money for down payment and a cosigner2)Use an FHA loan (3.5% down if I live in a unit) to buy a quad-plex3)Use the 203k aspect of the loan to improve the quad-plex and force appreciation in the property4)Refinance in a year or two to a regular loan and pull equity out to either pay off my outside investor or use equity for another down payment on another quad-plex5)Repeat With this plan, I believe I will be able to cash flow from day one because I will be able to rent out three units to college students around campus who are willing to pay higher rents than most.

Do a Welcome letter to everyone the day you take over, include who they now make payment to, your contact emergency number, and let them know you look forward to meeting them.As far as leases, you don't want to renew or give everyone same date for renewal, stagger your renewal dates so you won't risk having 3 empty units.

I have had numerous businesses through the years but it was serious health issue and the realization that disability social security payments would not allow me to live that made me want to build a successful RE portfolio.

Hi Everyone - I've been reading through this site to try an absorb as much advice, lessons, and financing information as possible, but haven't found any answers for my exact question.I'm interested in finding hard money lenders to finance larger down-payments on multi-family units (loans of 60K or less).

That being said, I would love to hear what your mortgage and payment strategy would be.

I've noticed that for the most part higher price = better quality like anything  We were also looking at a Condo that is significantly less and decent condition (don't really want HOA Fees but the rent could cover payment and HOA) @ 70K, but we could only rent out a 1 Bed/Bath.  

I imagine they are adding mortgage payments as an expense.

Hi @Derek Moore,I am looking for 3 family properties that will immediately cash flow with a 25% down payment.  

I realize this is a super basic question and more info might be needed, but I wanted to see what you all thought: Do I pull out the cash from the refinance to continue to fixing up the property or do I use the cash to put a down payment on another unit?

In Essex County where I live the county taxes are paid through the payments I make to the local municipality.