(Blacked out names, addresses, ect)Almost all of my extra cash is going into the remodel.

I also use crown moulding in my kitchens and baths and everything at home depot is an extra. 

If you have a pile of investable cash burning a hole in your pocket and don't have the experience or knowledge to separate an investable deal from one that isn't, or how to operate that deal after acquisition, then you are better off keeping that money in your pocket (or your friend's pocket as the case may be) at least until you are educated enough to do this and/or the market cools to where there is a bit more margin for error (and profit).

And while doing research I saw houses with the extra square footage that will be added after finishing the basement going for about 150,000.

Burn the candles, use the nice sheets, wear the fancy lingerie.

Real estate is hard enough without adding the extra trouble of having to also keep it secret.

Hello @Jeff Burns.

Danger: Fairly new investor trying to invest in multifamily in a out of state market, thousands of miles away, with little market familiarity, no well establish & trusted professional network there, and money burning a hole in their pocket is one of the riskiest conditions I can imagine, second only to perhaps trying to flip in that remote market.

Sure the additional 12 units under consideration have a price tag of 285k but they would bring in an extra 30k of revenue yearly.

.)-- When you find that deal that makes sense and you have you savings for your down payment plus a little extra.