SFR or Multifamily for Buy and Hold
Originally my strategy was to find cheaper SFR or condos or something just to get my foot in the door and get a cash flowing property. Considering my current financial situation i thought this would be the best route. My mentorship program claims they will get me financing from one of their Private Lenders as long as i can come up with 20-25 %. This all seemed good and my plan was to acquire as many of these as i could afford as soon as i gathered the capitol for the down payment.
The problem is what if you find your place suddenly vacant ie. renter dies, moves, stops paying so you evict and can't get another tennant. what do you do? You as the landlord are responsible for the loan payment and operating expenses? What are the chances of being without a tennant and how could you mitigate your risk
also it seems that MF would be better even at the very least a duplex or triplex you could feel rest assured that even if one tennant takes off you aren't out of pocket for months on end?