Hi Account Closed - I recommend heading over to Michael Blank's website and leveraging the arsenal of amazing training resources he has available to learn commercial multifamily underwriting.

Account Closed, I would focus less on narrowing down the type of property and location and focus more on finding good deals.

I know I can proceed legally towards judgements, the cost of which gets me to just over break even and i still wouldn't have any cash for my efforts.Does anyone have experience with other approaches such as collection companies or selling accounts receivablesThank for any help that you can provide

Account Closed Michigan is quite large, are you able to narrow down what area in Michigan you were thinking about investing in?

That is the fun part to study and teach. 

There are cheaper properties in the $300K range, but they are in rundown drug-infested areas.The calc I ran for this one was taking into account current rents, which we researched and determined to be a bit low.

I created an account on BP a couple years ago while I was looking for a property manager for my house-hacked condo.

We are now moving to automatic draft from their account. 

Accounting advice : setup and on going maintenance of Quickbooks (or other recommended software). 

I think for now I am just going to keep studying and saving for the first purchase maybe at the end of the year or beginning of next or whenever I find a good deal.