No such thing as $10,000 a unit.This is the sort of property I might buy and fix it up myself, assuming a decent location and no major structural issues.I would advise people who are out-priced in their own markets to pool with others in their own markets.

You don't need to make all your money on your first deal, but it's important to avoid risks.I can certainly help you with Milwaukee questions, but I think it's best to invest in your backyard and keep your home field advantage. 

I have a close friend who is having success with a single family residence where a granny flat is being AirBnB'ed in the backyard.

For example, try to find a SFH for you and the family that has a garage studio, converted garage, or studio in the backyard with a separate entrance.

You will actually limit your rental pool nowadays if you don’t.

Some owners will then accept the first application that fits their criteria and others may wait until a certain date and pick the strongest application from the pool of qualifying applicants.One important note is that the application criteria and process should be consistent for all applicants, whether it's regarding income requirements or past evictions.

My old townhouse had an HOA fee of $280, it covered a pool, two tennis courts, landscaping for a sizeable public lawn area, and building exteriors.

This is an oversimplification and lenders look at these numbers differently, but you get the idea.The problem with our market right now is that there is no inventory for the bottom half of the buyer pool which is borrowers to small multi's and making them absurd choices for investors as stand alone investments.

Just because others post things does not mean they are doing so legally.In addition, even if you legally attract investors, putting them together in a pooled investment can be another issue.

I looked at rentometer and the area does not have high amount of rentals but average 1400. 4 bed 3 bath 2900 sq foot with pool.