Hi,I am a new investor looking to explore in the Tampa Bay area.

The key to wealth building is diversification and time in the market.What you do put into real estate, I would place by exploring deals in all of the market areas you are interested in and eventually you will find yourself drawn to one area over the others.

Instead of thinking negatively about this property, think positive and explore your options!

Also, I love how you’ve not been afraid to step outside your local area and invest in opportunities around the NE and also explore virtual wholesaling!

A lot of duplex/triplex's in my market are off-market and rarely make it to MLS if it is a good deal, so I am exploring other ways to find a decent deal to start.

I've been looking at investing in my first small multifamily property with 20% down, but recently started exploring putting 15% down in order to hold on to more cash (to invest in my next property) and pay the PMI (or MIP).

As a first step, I am educating myself (just completed the beginner guide of BP) and exploring the markets around where I live.

This situation has just come up and we are exploring if there might be some open options to pursue. 

If not I would start there and explore your options.

While I didn't do that particular deal I did some preliminary exploration with the lender and county treasurer and it seemed that it would very difficult and take months to resolve everything with a high risk of failure.