First, I should start with a little bit of background. My husband and I purchased a 3bed/2bath home in 2007. We added a few bedrooms and upgraded the property, then bought (and moved into) another home. We are now renting out the first property with a positive cashflow of $300 per month.
Our goal is to buy and hold properties as landlords, and eventually be able to retire and live off of the positive cash flow from our renters and lien free properties.
We love the idea of purchasing a multi-unit property at a great price, but since we are very new to real estate investing, would you recommend that we start with adding more single family homes before looking into a multi-unit? If so, how many would you recommend?
I should also mention that we are not looking into jump into anything real quick, just trying to learn all we can and get a plan together.
Welcome, and it sounds like you bought at a great time. I would heartily recommend reading anything by @ben leybovich re MF. It's gold.