Hi Rony,Often the offering memorandums are created by virtual assistants or secretary type workers at a larger firm.

@Latasha Griffin We use Avail.co for most of our online property mgt tasks.

Thanks for the input Aaron and Heather, definitely helpful.Also, besides the potential barking, do you think having a larger dog in a small multifamily could put other tenants off?

Afterall, millions of people do that sort of thing, even on a much larger scale (i.e. buy new clothes every couple months, buy the newest phones as soon as they come out, buy new cars every few years, etc). 

I am a CPA and actually work with a lot of large real estate funds on the tax side so we have that going for us.

This larger "seed money" is the new base seed money, that you will never spend...just use forever. 

My initial research seems to point to investing in 1 larger property for more cash out of state is better than buying multiple  cheap small places in questionable areas.

While I am not a STR guru, I do have long-term rentals and I would consider allowing a STR sub-lease for a premium on rent or larger deposit.

APartments.com is typically used for larger properties, but you can occasionally find small properties listed there too.As for expenses, when you find a property you like, ask the listing agent for a detailed P&L and rent roll.  

I would not suggest this generic strategy for a larger park, parks with a lot of park owned homes, or parks that need a lot of work.For value-add parks with vacant park owned homes, vacant spaces, and one that may have been previously poorly managed and in need of a lot of work, the generic strategy above will not likely allow you to move the needle much.