This is what all growing businesses eventually do.For instance, why are you still doing marketing, showings and leasing?

It depends on what your starting reserves are, but if you have enough for a down payment, I would look into DSCR loans for financing, as you can qualify based on the property's cash flow as opposed to your own personal income. 

can put the property under due diligence and check with the county if its possible to get a variance for the multi and settle based upon that contingency 

I've also built and seen others build a lot of equity in that time.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: 1%-1.4% rule dealsROI: 10-14%Cash flow: $150-$300/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.

Choose your investments based on their growth potential and their risk.

Both of them seem playing the same game.

The PP is around $72k but current value range is around $140k+ based on recent comps (not a lot in the area though). 

The rent should be based on market conditions and the amount of money you need to collect for your business to remain viable and profitable at a level you are comfortable with.

It sounds cheesy, but the best way to prepare is to work with a friend or two and role-play.

They can help navigate challenges, identify market opportunities, and offer sound advice based on their own successes and failures.Risk Mitigation: Sharing the risk with other investors can reduce your exposure and help protect your assets.