As new to the US real estate (i am a foreigner) I want to start with multifamily (ideally apartment buildings) already rented and in OK condition to generate immediate cash flow without having to incur large expenses in the first year(s).I am looking in PA (as I have some connections in RE there) or FL (nice weather).

Many times I've heard from folks I deal with or have taught that it was their presentation that tipped the scales in a transaction.Even when it doesn't, it builds your reputation as a knowledgeable professional --- and that's what may seal the next deal.

Underwriting the deal, the timing in the market, financials, costs, credit, property issues and other factors simply can't be put out there to the public.

@Steve Babiak @Jon Holdman @Steven Hamilton II ....Guys I have a couple: 1--Does the depreciation for a given year factor in the date when you made the purchase?

Actually more like 170k-180k tops minus, minus due to the factors previously described.It is definitely a solid rental market.

The $5 cash flow from 1,000 miles away would be strong factors in my decision.

Is this an opportunity I should take advantage of, even though my personal finances are not ideal at the moment?

How should I deal with this?

Just because you might have 125% debt coverage and adequate collateral with good credit doesn't mean you have the ability to endless funding, lots of factors play in to the picture that are beyond your control. :)

Good increase in equity , good cash flow, minimal vacancy factor and management requirements.