Biting off more than we can chew? 3 at once to start?
So, we are in the middle of starting to look at some multi-family properties, and our goal is still to buy one in the coming months. 2 friends have also offered us great deals on their personal homes. One was an inherited home, which I could buy for around 20k under property value, with owner financing the down payment (I like the idea of no money out of our pockets--wasn't sure if that was really feasible). Seems like a no-brainer. My buddy is transferring from St. Louis to Florida for work and offered his house to me, fully furnished for 55k. Value I would say is around 65ish. 3br, 1 bath, all wood floors, nice little house. Also sounds like a great deal.
SO would we be crazy to try and go from zero rentals to 2 sfr's and 1 multi all at the same time? The four of us (wife and cousin/wife) are all a bit nervous about buying 1, now we could feasibly buy three! This is exciting and would be a great start to us investing, but I wanted to get some opinions. Is this too much to fast? It seems like a great opportunity, but I really don't want to be in over our heads from the beginning.
Thanks!
DJ