Investment Info:

Small multi-family (2-4 units) buy & hold investment in Virginia.

Purchase price: $85,000

Cash invested: $7,000

4 plex value add purchased with 1031 money. Slowly upgrading all ...

I took a trip through different areas outside of town looking for multifamily homes and a few apartments.

Looks like there are pluses and minuses to that part of town. 

It is our 10-year goal to have a functioning hospitality and beverage focused project in the Glenwood Springs area of the mountains, this project requires significant cash-flow and capital to get started (and not bankrupt us along the way).Our current interests lie with purchasing an initial single-family unit to live in and work out of, with the hopes of getting into short-term rentals in the surrounding ski towns.

I like your drive, but the bank will more than likely balk and say "no" due to the properties being the same town and you not coming to the table with 25% down.  

Would like advice on markets to focus on - my key hypothesis is to focus on markets with decent employment rates, growing population and presence of contemporary industries such as tech, healthcare, finance, etc and not relying on manufacturing/agriculture.

Great Business for small Towns  

They are a big sailing and boating community, but it's a very small town.

It will bring a lot more money to this town.

Feel free to contact me when you are in town!