I realize there are all sorts of investment types and goals out there, but the beauty of multi-family investments is in the economies of scale.  

Long term goal is rent, refi and repeat once complete but until then, it is a money pit.

Hi @Matt Hoiles I would love to hear your process on how you purchased that first multi-family in Nashville, as I have very similar goals.

The other aspect of providing income to live on which you mentioned was one of your goals, through apartments is being a passive investor in syndication deals which would provide you a return on the money you invest which would provide passive income to you and if working with experienced operators in a deal you will also be able to learn on how these guys are doing what you want to do in the future which is be an active full time real estate investor.

Unfortunately, the brass Kitec fittings allowed a chemical reaction to take place which eventually weakened the fittings causing them to fail.

Your biggest asset will be your mind, it's all about critical thinking.What are your specific goals?

The ones that think they do are usually following the traditional BP model...and they'd be wrong.You have to "reverse engineer" it, starting from your Financial Goals, and working your way to where you are right now.  

It is very dependent on your investment goals, style, tolerance, risk factors, convenience and so much more.

With the numbers you posted I don't see a major con from either option, comes down to what works for YOU and how it fits in your plan. 

As a result, I've built some smaller goals for myself in order to better prepare for what my REI journey will look like.