Following is my opinion but I recommend you get the feel of the neighborhoods. 

Good luck on your journey and feel free to reach out if you ever need any guidance or advice.

Any tips or advice for a newbie would be greatly appreciated!

@Quincy Lockett Also at the tip of the list.

You really have to watch the training videos (which i dread, i always feel like I can just figure it out as I go...), everything is hidden and not self explanatory.

This allowed me to feel comfortable buying the house and not having to worry about rushing tenants into the property.

I will see your head-scratching and raise you a dire warning of a deep multifamily crash continuing - to the tune of another 20-30% in asset values, perhaps on average, in the US. https://www.biggerpockets.com/blog/multifamily-crash-to-cont...in theory if bond yield is increasing, shorter term financing commercial real estate price valuation should go down, they are working on the reverse.good thing about CRE is every asset class experiences the same phenomenon except industrial because the supply is perhaps limited.residential doesn't feel the same effect of CRE because residential has longer term financing.

However, in the last couple of years, the Multifamily DSCR Loan option has emerged and become super popular with multifamily investors.

I feel that if both parties understand the risks; if real estate investing is their business, if both parties are sophisticated and experienced investors, and both decide the risks are worth taking, then subject to can be a workable tactic.  

I feel like I have to try for it!