When putting together our first multifamily deal, we built in a cash reserve to be used over a five-year hold for such things like capital improvements and unit upgrades.

Investment Info:Single-family residence buy & hold investment in Las Vegas / Henderson, Nevada. 

This setup allows for a more predictable cash flow since the landlord is not regularly footing these bills.Lower Management Responsibilities: Because the tenant handles most of the property's operational aspects, the landlord's management burden is significantly reduced.

Still, if the cash flow is very little, or even a bit negative, but you can hold on to the property for 4 or 5 years, you will gain an average 20% net worth on said property that belongs to you and only you.There is a saying I love in the stock market, but I feel it also applies to the real estate market:"Time in the market always beats timing the market"This is to say that if you hesitate and don't pull the trigger for fear of having "missed the boat" you could be missing the boat that is passing in front of you.So, to summarize, I would look at other markets, but I implore you to look for a good realtor who can provide more than just the properties.

I see ridiculous pricing mistakes all the time and zestimates that are off by six figures regularly. 

Regular meetings, workshops, and events are frequently held by these associations, providing an opportunity to network with seasoned investors.Real Estate Conferences: Participate in Chicago's real estate seminars or conferences.

If you regularly are late making payment you do not qualify.

If you allocate enough for maintenance/cap ex, you would be the first newly that I am aware of to have done soRecognize there is a poor relation between initial cash flow and actual cash flow over a long hold.  

I've had my property for around 7 years and am looking to buy a few more multifamily properties in my area. I will need to use some creative financing or lender as my credit score is low (620) and my current house has...

Are you planning to do long-term by and hold, or another type of investing?