Essentially, what I would be doing is a BRRR (minus the R for rehab) because the rapid appreciation has given me built in equity.

@Thomas Visaggio If you were asking $1,100 and they had an $800 voucher you are essentially asking for a $300 cash portion.

I think Multifamily is the way to go, but educating yourself first is essential.

There are essentially no taxes due when selling a recently inherited property....the heirs basis is the current market value....so no potential tax savings doing an installment sale.

Feel free to reach out with other details you feel are essential in making a decision, thanks!

ThanksHi Eric, also Josh Andrews book Paper Profits is an excellent resource for getting started. https://www.amazon.com/Paper-Profits-Beginners-essentials-mortgage-ebook/dp/B06Y4C7X6Y

I live in California, and my ultimate goal is to invest out-of-state (likely in Pennsylvania, Indiana, or Ohio) with buy-and-hold, 2-4 unit multi-family cash flow properties.I am essentially debt free and have funds to get started, but wish to set myself up right for my future borrowing needs by developing a relationship with a good conventional lender.

Based on comparable properties in the area, it seems like the 3 flat  is listed fairly competitively and the extra large lot is essentially an added bonus.

If you eliminate your cost of living (rental expense) you are still essentially making that money every month anyway.They aren't a BRRRR tool because the purchase price and rehab is calculated together in the appraisal.Hopefully that helped out a bit.

I just bought my first home, which is essentially a live-in flip.