For example in Birmingham, Alabama, it meets most of your criteria but certain neighborhoods I would never consider.

@John Tarantino1) The state of ownership shouldn't matter as long as you are still able to meet one of the 7 stipulations linked here.

Going to meet-ups and telling people you are looking to invest in multifamily is good way to find a mentor if you don't want to pay for one.

The value is continuing to increase on Hilton Head, but with buyers sitting more on the sidelines with interest rates, deals are being done in this market that can only be done right now.

Long story short, we have been renting it out and have been told that we would be safer if it were in an LLC but we do not want to refi and lose the rate we are at.

We’d love not to refi bc we have such a low interest rate.  

Great idea to get in on the ground floor in that market, meeting with officials.

But, one must do what one must do to make ends meet for now!

Property Details: SFH 6 beds 2 Bath 2016 sqft - Rented by the room.Purchase: 340,000Amount Financed: 272,000Down Payment: 20% (68,000)Purchase Costs: 12,777Loan Type: 30 yearInterest Rate: 8.75%Rents: 3,300**********************Investment Returns - Year 1Cap Rate (purchase) 8%Cap Rate (Market Value) 7.1%COC 1.8%Return on Equity 1.3%Return on Investment 25.1%Internal Rate of Return 25.1%

Meeting 1% rule is an expected MINIMUM, FYI.