It depends on what your starting reserves are, but if you have enough for a down payment, I would look into DSCR loans for financing, as you can qualify based on the property's cash flow as opposed to your own personal income. 

The leads are horrible and I've heard that some agents have had success getting out based on the new lawsuit selling one lead to multiple agents.

I've also built and seen others build a lot of equity in that time.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: 1%-1.4% rule dealsROI: 10-14%Cash flow: $150-$300/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the "sweet spot" in Metro Detroit.

can put the property under due diligence and check with the county if its possible to get a variance for the multi and settle based upon that contingency 

Matthew,Based on recent investor track records I would say choose Ohio over NY or NJ for a 2-4 unit. 

Choose your investments based on their growth potential and their risk.

The rent should be based on market conditions and the amount of money you need to collect for your business to remain viable and profitable at a level you are comfortable with.

The PP is around $72k but current value range is around $140k+ based on recent comps (not a lot in the area though). 

They can help navigate challenges, identify market opportunities, and offer sound advice based on their own successes and failures.Risk Mitigation: Sharing the risk with other investors can reduce your exposure and help protect your assets.

Cap rates offer a valuation based on a single year's NOI, while discount rates consider the property's entire income-generating potential over a specified period.