Your bigger challenge could be taking title in the LLC for the new purchase, unless working with a local bank who will allow it - like Firstbank.

When they're selling for $170,000 and renting for 1600/month, they can approach too-good-to-be-true.I do think the stadium will generate more commercial investment to the area, but I'd have to ponder more how that would play into appreciation/rent/demographic changes.

Anything over 4 units should be analyzed on an income based approach.

If I am approached with a request when I am at the property- I give a hard no.2.

Not a very scientific approach… lol

Everything will have challenges, which challenges do you want?

This is one of the big challenges with small multifamily properties.

I was fairly aggressive and within a few years bought around 15 units, but even a less aggressive approach will allow you to get there in under 10 years (if done right).

Developing that trust with someone you don't know may seem like a challenge, but if you approach it correctly, you should be able to achieve a pretty solid foundation of trust. 

Courtnay, I agree with Mitch that it is easier to approach investing and all of its components by essentially outsourcing the needed activities until you can do them as well or less expensively.