Hello ive been investing for a couple months now and have acquired 4 rental units and honestly i think if your looking for the best route to go for the financial freedom it would be that.

Has anyone ever acquired a severely distressed property (long neglected water damage, structural damage, mold, hoarders (and cat poop)) and lived to tell about it?  

In addition, some loans can have 5 or 10 year terms or not be fixed rate so if rates rise or you need to refi at the wrong time, sorry you lose.7) Overpaying - If you buy a property at too high a price you can cash flow but still lose because when you exit or try and refi you will pay around 5% in many cases to get in and out plus maybe not get your full purchase price out.8) Construction/contractor issues - contractors who take your money, do a poor job, take away too long etc. can cause major losses.9) Buying in the wrong area - If your B area turns into a C or a D the equity values will plummet as will your tenant base .

Check with an attorney or the state MHA for additional guidance on that.

I can do this either by house-hacking the place in 2 years' time (it's a house + large outbuilding) or structuring a gradual buy-out as I acquire the capital.

Seeking a referral for a good property manager in the Milwaukee market for out of state investor.I have family in the area however I am on the west coast.The property I am looking at acquiring (duplex) has tenants in place, and I am just looking for good property management, eyes on the property etc.Thank you very much!  

I am looking at acquiring a duplex in Milwaukee.  

@John ArendsenIn addition his debt to income ratio is not very good but there is plenty of equity.

Let me know if you need anything or have any additional questions.

For us, this will result in roughly $85k in cash after costs of the refinance (according to loan estimate that I recently acquired for my unit).