Even if you have money for the 20% down, it's not wise to spend your last dime making that down payment and leaving yourself vulnerable to losses from a bad tenant or maintenance costs.If you want to be a successful investor, increase your earnings, reduce your expenses, save up, and buy wisely. 

This could turn into a complete nightmare.. please tell us why you're even considering this?

Appraisers will pull from comparable sales with ADU's - even if they have to go farther and from a later date.

I'm confident I'd have even more if I hadn't been out of the country during these 6 weeks with my toddler and infant.

It has a tenant facing portal where tenants can pay their rent, which the app deposits into our account the next business day (even though ACH payments do not regularly settle for 4 days!).  

However, the property should still have a path towards the investment making sense on a monthly basis, even if it's not immediate

How are we here having a conversation like it is even ok to let the statement "Multifamily is Pay to Play" in the first place?

5) Consider meeting with a few agents in your area even if you are just getting started!

They want to sell the notes at par (even ones closed 2 years ago at 8% vs 15% today) which makes it even harder for me to do without the put option, but my thoughts are that they already have the sales channel in place & have already sold that piece of land before, so it is overall a net gain if they sell it.I hadnt considered the extra complexity & especially liquidity from their perspective & needing to account for it, so that is a good point.

I've seen many posts that opportunities really vary depending on location, but I just don't know how you can find something that cash flows or even comes close given rates.