Every market has good and bad areas so be warey.When considering ROI on single family vs. multi, the multi will provide you with revenue to offset your house payment while you're living there. 

Initial owner was on a contract for deed where, unfortunately, they were unable to meet their payment obligations. 3 investors involved in this deal. 1/3 split up front cost. 30 year conventional financing with one investor assuming loan while all parties had a legally binding MOU.

Hello, I was wondering what’s a good amount of money to have on hand to use as a down payment to start my investing journey.

After accounting for your monthly payment, vacancy, maintenance, management, and a return on the the cash you have to put in, are you still in the black?

I make the mortgage payments for about six months or so then I have my attorney put the property back into my LLC.  

Talk with a qualified attorney.I wish I had the money to do this, but unfortunately I'm not in any better position myself, although I have the equity, I don't have the income to support any further financial obligations, otherwise I'd just make the cc payments for her.

I want to use this equity for a down payment on future value-add projects.  

Some alternative methods to consider...1) Dropping the price or creative move-in specials. 

@Robert-Lee PassWhere can you get an investment loan with that low a down payment ?

@Taquana Hudson besides benefits of tenant payments & communications, all software really does is keep you better organized.Know an investor that manages 40+ doors with only spreadsheets.