Hey everyone,Today, while driving around, I came across a property that looks like a great investment opportunity.

A set of two multifamily properties are being liquidated and sold near me and it’s about $2M before any possible discount/negotiations with the owner.

@Ray HageI agree as I would stay away from condos as between special assessments and increase of fees, what is the risk vs reward.Many of these buildings are run by people who are not property managers or have development experience and lack the knowledge to properly run the propertyAlso many don’t realize that on older buildings your initial estimate will be 30-50% less once the work starts, especially on older concrete buildings that are susceptible to deterioration due to the weather in these areas (especially the salt)

My parents are interested in buying a property in their neighborhood using a HELOC to buy it for cash.

I'm guessing it would be more fee friendly if I was to take out the full $100k from the property then only use half for the down payment and save the rest for a future purchase. 

But ultimately you make money managing properties. 

Otherwise, is too hard to know for sure how much a property might cost to prepare for a STR.

This is my first rental property.

Properties that are operated by a management company are also out.

She’ll be out by Dec 1.Given that I’ve been paying about $15k on this property every year, it’s been a money pit.