But with the salary that I make and the area I want to live in, I can only afford to buy a 1-2 bedroom condo.

We’d be glad to offer any help if that is something you are interested in. I

Caleb, yes those costs are factored in!  I

I agree that finding a good PM that you can trust in the market you decide to invest in is crucial. 

-Relationship going in is key, do they want to sell to you?

Hi All,The market that I live in is very HOT, $500K is the starting point.

Sure, you can get all of your equity out, but now you have another problem where you lack the ability to cashflow in a down market (having $10/month cashflow on a home that you have $0 money in is still infinite returns... but what happens when you have to drop rents $25/month to be competitive?). 

Is there a way to review multi-family units in areas that might be better for me to be living in? I

I sold mine by calling every wholesaler/investor in the area lol Since this incident, i am less trusting of most people (professionally)- I prefer to do my own extensive amount of research before diving in. I

Our standard contract in Colorado has the appraisal contingency clause built in. I