Assuming you have another stream of income when you move there and I hope you do, I would recommend using the smallest amount of capital possible and invest in the most doors (1-4 units) that you can. 

It wouldn’t be surprising if they were forced to close their doors entirely.I’ve also heard horror stories about lenders backing out of deals at the last minute, leaving clients with significant financial losses and lost opportunities.

We also own the building next door so idea would be to relocate the tenants to that building after building it out.  

.: @Keith Wilsonwhat are you trying to accomplishwhere are you locatedhow many properties do you owndo you have lots of cash Coffeyville, Kansas just trying to grow have 3 doors now that i paid cash for but out of big$$$ so will need loans  

One of my clients has added about 50 doors through me.

Even with multiple units, with current interest rates and a competitive market (prices have continued to rise even with higher interest rates) think the Madison market is a stronger long term ownership strategy, where the bulk of your return will come when you sell from appreciation in rents and property value. 

Growing a portfolio by X doors per year isn't always a good strategy.

It is VERY important for all of us including BP to constantly raise the bar in our industry and stand guard at the door of our wallets so we all can literally have bigger pockets!

We see a lot of success in the suburbs:Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

Some quick background I have a growing portfolio of 19 doors, I am a full-time property manager and have a side gig as an REA.