Stay away from the bad areas-haha-and screen your tenants extra well.

Not $500 for the whole plex.If you go the $150 per door route stay at your job. 

Stay calm.

*This advice is anecdotal, but I personally would stay away from Home Depot, Lowes, and other box stores vinyl planking.

I have an opportunity to purchase 5-7 lots in an area that already has some trailers on it. In general, how much would it cost to prep .25 acres (perc test, running power, water, occupancy permit, etc) to allow for a ...

Austin is a great market as long as you stay away from downward trending areas. 

I'm going to cold call 100+ landlords in the area and organize an informal meet-up at the local tavern so I can meet a couple dozen landlords and let them know I'm looking to buy some multifamily properties..The downside of this idea is having to syndicate the money between what I can put down and what the local bank will finance.

No need to stay in the middle of this deal.Happy investing

You could try managing from an hour away and if it works out stick with it, if not you can always hire a property manager.Elmhurst is generally a better area, but houses are also usually more expensive, so you have to weigh that and see if you would rather get more house for your money in a cheaper area, or a nicer house (and nicer tenants) in a better area.If you do decide to manage from afar then I would say stay out of C areas.

It will be lower if the tenant stays for 2 years or more, etc.