Hey Antonio, you can see these numbers in Columbus, Ohio and will see some great appreciation in the long term. 

I would have a long discussion with your friend on how he will be treated like any other appicant and tenant. 

Purchase price: $310,000 Cash invested: $350,000 This was a full rehab 6 unit multifamily building.Our firm did everything from locating and acquiring the project, to managing construction, and then finished up by leasing out all 6 units for a premium rent.We used a construction loan to secure the property and do the rehab. 12 month term which we were able to do construction and lease out all units before taking out the original loan with a permanent commercial loan.

I'm new to real estate investing and was curious what kind of IRRs are realistic to find in the current market? Since the S&P 500 averages around 10% annually I personally don't see a point in investing in a renta...

If not I will try to refinance and then either pull the trigger on furnishing the home for STR (cleaners and handymen were hired/ interviewed on the trip out,) and still have the boots on the ground in case of emergency.. or just long term rental and refinance, repeat…Not a perfect deal, but I learned a ton!

Equity generation (over long periods of time) is.Real estate creates long term wealth, even for a small investor you can relativley easily create a million over a decade or two with just a hand full of houses.

The other factor with this: I think many (not all) of the buyers today that are going in with negative leverage (artificially buying down a short term rate cap does not create positive leverage) are going to be in trouble.  

My goal is to utilize a long-term rental portfolio to reach financial independence. 

@Elijah Skinner*Cue every agent talking about their area* hahaIn all seriousness, I've house hacked twice in Reno NV long before I became an agent here. 

We are thinking very long term, so in order to cover bases regarding potential deaths, wanting to pull out, or being unable to afford the investment it seemed like the best way to go.Really looking for some general advice is there is any, we feel we've googled and researched everything that will apply, but are there anymore pieces to be aware of?