My first thought was to go interest only for two years and build up the financials but I'm not sure.Purchase Price: $275,000Down Payment:  $68,750Financed Amount: $206,250Monthly Cashflow: $6,600 ($600 Per Unit, could easily raise to $650 bringing cashflow to $7150 Per Month)Taxes Per Year: $2950 ($245.84 Per Month)Heating Per Year: $9,000 ($750 a Month)Electric Per Month: $800Insurance Per Month: $550 (Estimated at $50 a unit per month)Repairs (5%): $330 Per MonthProperty Management (10%): $660 Per MonthCapex (5%): $330 Per MonthTotal Costs Per Month without Mortgage: $3665.84 The repairs I estimate to be little and I'm more so banking that and capex into a fund to do some updates during turnover as well switch all the units to their own electrical meters.  

I'm thinking there are some things that everyone should do if they can to prepare and be in better position to continue investing no matter what happens: build up cash reserves, focus on buy and holds or very high velocity flips so you don't get stuck holding the bag if prices drop, etc.Any suggestions?

Flipping is a great way to build up some capital initially.

My ultimate goal is to build up my retirement fund.

Less time to build up your investments and less time to recover if/when mistakes are made.You won't be able to swing a hammer like you could in your 20s, so you may need to be more hands off in certain aspects, but never totally hands off.Strategy:Because of the pros and cons above, you may wish to focus more on cash flow than appreciation, especially if you will need this cash flow to live off of.

It might make more financial sense to get a 3-4 year loan in your own name to buy the car outright and see if you can get the monthly payments down to $200/month allowing you to put that other $250 in savings and build up credit.

However, it is a cash cow and can enable you to buy discounted properties and live VERY well while you build up a portfolio if you desire.

I have been able to use the program to refer buyers to agents and build up relationships with good agents, so that is definitely a plus.

Creosote buildup is bad. 

@Shane Pawich  there are many who don't own and just rent and build up rentals.J.