Take Indiana for example you can still buy a Multifamily 2-4 units from $90K up to $350K all depending on turn key or need renovations.You also have states like Tennessee, Alabama, Florida, Ohio and others that offer great LTR and STR opportunities. 

We've seen deals fall out in Reno, NV on 8+ units because DSCR financing required 50%+ down. 

Hello everyone,I'm a Software Engineer from the Bay Area, looking to start investing in small multi-family units in Sacramento for passive income, but am also open to SFHs for flipping opportunities. 

When deciding between investing out of state vs home hacking in Oakland, keep the following in mind.Oakland House Hacking:Proximity: Living in Oakland while house hacking enables you to maintain a close proximity to San Francisco, which might prove advantageous for property management and maintaining connections with the local market.Possibility of Appreciation: Property values in the Bay Area have increased historically, which is good for accumulating equity over time.Local market dynamics, tenant preferences, and potential obstacles might be simpler to comprehend when one is in a familiar location.Demand for Rentals: Oakland has a robust rental market, and you can discover good demand for rental units if you pick the appropriate property and location.Creating Local Connections: If you live in the Bay Area, house hacking can assist you in making local contacts with property managers, real estate agents, and other investors.Investing Out of State:Investing outside of your state may be more affordable and enable you to use the same funds to buy more than one property.A few out-of-state markets can have more favorable cash flow prospects in contrast to the pricey Bay Area market.Geographic diversity, which can help reduce risks related to market-specific variations, is made possible by investing in a variety of markets.Hiring a local property management business, which offers a more hands-off approach to property management, is often necessary for out-of-state investments.Remember, both options have their advantages and challenges.

I have been an operator in Ocean City MD for awhile and have units ranging from 2 bed 1 bath to 6 bed 3 bath. 60k GRI is achievable on some units, typically on the larger side, in the 3 bed 2 bath range.

I'd also like to split a unit and add a unit if it improves the ROI. 1.

Starting out, I would start with 2-4 units to get some experience under your belt.

There is also copper pipe on the gas supplies to the heater and a/c units which is not permissible. due to no accessible attic space, there is also no way to run electrical service to the closet to convert to an electric water heater.

The units without mortgages typically net $10-12k annually and the units with mortgages net about 1/2 that.

most of the construction loans out there will be for investment properties 1-4 units