I'm sorry if any of this gets long and drawn out, as it's a pretty complex situation.

I do think some people will buy this and may even do well at it, but some of these folks could't follow the simple math of a basic RE deal yet looked eager to shell out $30,000 in financed tuition to be taught significantly complex transaction like lease options, short sales, tax liens, etc.  

Downsizing will not translate directly to rentals but if it does it will most likely be to conventional apartment complexes not SFHs or small multi plex buildings.

I am wanting to become a general investor for now looking to start out with a few single family properties and then graduate up to multi family properties and then on to larger complexes.

If your market permits @Matt Smith I would personally use that as a down payment for a apartment complex.

If these questions are making you jittery, I would consider wholesaling it to someone like Skyler Smith who may be more experienced in complex deals of this sort.

I am going through a similar situation as you, I am looking to jump over to multi-units and apartment complexes and have been dragging my feet because I am unsure about what all comes with it.

We bought 18 1 bedroom apartments at a condo complex from a tired landlord, someone who had a number of apartments and apartment buildings and simply didn’t have the systems and policies in place to be able to effectively manage so many units.

Hey @Rachel Orsie this is a complex scenario and there is too little information to evaluate the deal...that said, this being a 3-unit suggests that this is a nonconforming property: i.e. someone converted a large home into a 3 unit, which is unattractive.

Our CPA handles a lot of complex deals and does it with ease.