For example, in my market, we see MF building permits way down for the last 2-3 years.

The last thing you want is to have a home run deal that theoretically should be a high-profit flip but is ruined because your contractor screws you over in some form or fashion (late deadlines, inaccurate scope of work, etc.). 

Lastly more to my point - I thought you worked for a MF syndication in the past that I was not sure but wanted to mention and that you are not just someone coming off the street having never been involved in a deal (unlike a lot of others).  

The tax benefits refer to the tax deductions from mortgage interest and property tax.The returns mainly rely on appreciation, and the cash flow only improves in the last few years, also depending on securing the 5% refinance rate.I've learned a lot from this forum, but as I start to operate on my own, I'm still not completely confident.

Lastly, if you want cash flow so you can quit your job then you might want to consider strategies like flipping, Airbnb, property management, and being a real estate agent.

I was a Navy submariner for 21 years and really focused the last 6 years on growing our portfolio.

I’ve spent less than 150k total out of pocket investing in RE in the last 9 years and have been buying “base hits” in Dallas and Arkansas and now have 29 SFR.

I started my solo-shop last summer and looking for ways to improve!

Quote from @Mackaylee Beach: I think these times (the last two years), and this year are the ones that will give birth to some of the best investors.

@Henry Lazerow thanks for putting this out there and it’s crazy how many “tester” calls we got in last 90 days.