Once you determine what your goals are and what path you want to go down  the best way to get started is just to constantly evaluate deals.  

I saw the potential in the area after talking with the people who live there and noting the proximity to progress near by.

Make sure you have a realtor that can evaluate comps and make sure the numbers work for you.You can always refinance at a later time to remove the PMI, especially if you add value to the property and increase rents.Conventional multifamily will typically require 15-20% down and rates aren’t as competitive as FHA.

Just slow making progress when you see how powerful REI is.

Still in progress.

Biggest challenge is that I didn't really know how to evaluate the property expenses at that time.

I would contact the developer in writing, so you have a paper trail asking about the progress.

@Zach McLeanHi Zach, i didn’t read all posts but saw you bought the property thinking construction was in progress but later discovered it stalled.Investing emotionally in property is now very risky.

When evaluating whether to go active when selling your own property, it is cheaper to just negotiate the right brokerage fee.

Floating rate debt can work well, and I had many properties financed this way when I was in the small multifamily market, however if you have a balloon payment that becomes due during a year like this with an unforeseen pandemic, it can definitely be troublesome.Either way I think investors need to fully evaluate their portfolio and balance sheets and determine themselves if they are over-leveraged.