Zestimate is $315K.Cash flow won't be great for me since I will be taking an expensive loan at 7%.Expenses would be: mortgage+taxes+home insurance= $1300Management fee of $100 will be waived for the first year.There are renters in the place with a contract till June 2019 and they pay $1635.What I'm considering is that:Get the place, have little to no cash flow and when the renters contract ends in June 2019 have them out and renovate the place and:1. rent it out for more or2. if the market is higher/ home value is higher after renovation, sell for a profit.What do you think?

I want to start investing in multi-family and then transition to larger multi-families.

The properties we find tend to need updating or major renovation.

Once you have a larger portfolio, turn it over to a professional property manager.

Anyway, the gist of the loan will offer you up to a max of $35,000 for renovation costs atop of the purchase price. 

I have actually purchased it already and just finished the renovation.

I purchased a recently renovated duplex on the golf course in town in the fall of '16. 

We do have a ton of larger multi family units, but duplexes are scattered throughout the city and also one person can own one side while another person can own the other.

Just to add to what @Chuck Kramer said, as I think he mentioned he is buying larger properties. 

Now, I am looking for a house to renovate for myself and have recently started an LLC (with another person) for my new endeavor.