I'm looking to start with a moderate "fixer-upper" multi-family unit in the CT/PA area for under 70k.  

In my limited experience, I find it to be rare that people go from one rent level to a much higher mortgage payment.  

Areas of interest include:  Upper West Side all the way to Morningside Heights; Brooklyn -- Astoria, Williamsburg, Park Slope, Prospect Park and Bay Ridge (if not too far south).

The Ultimate Beginner Guide (UBG), does an admirable job of getting you familiar with REI at a very high level, which then will spawn more questions.Ask those questions out here on the BP forums and listen to the BP podcasts.

So I’d be on the hook for 20% of the startup cost and would hold the same amount of equity in the LLC.We are currently looking for real estate to purchase in the LA area as the first deal this company does.I wanted to post a general high level summary of my situation to get the discussion going and see if other BP members are involved in similar situations.

Big pockets and access to cheap capital makes it possible for them to scale the business on a national level. 

@Cody StoneCall up your local banks and figure out what their level of understanding is on 203k loans.  

I just do not buy at those levels but long term maybe it works for you.  

At one point 20% of Californians were involved in real estate on some level.

You get a lot of part time residential agents that dilute the profession and level of standards.