Cash Flow and Debt purchasing multi-family
Good Morning!
I have purchased single-family homes for LTR. Now I'm looking into multi-family. I am concerned about the cash flow regarding how much is a good net profit. I have heard 100 to 300 monthly for single-family. When purchasing a single-family, I try to stay within a budget so that if anything happens my personal money can cover the mortgage, however, adding a multi-family plus my current properties will be very difficult.
What is the best way to purchase a multi-family and not be too concerned about making the mortgage payment and other expenses? Yes it will have tenants, but what if the tenants break the lease? I've been there before, going to court but still didn't get paid.
I see people purchasing one property and month and making a profit of 100 to 200 per month, but how can this be done and not be concerned about making the mortgage payment and other expenses?