Beginner getting into a 10 unit out of state.
I am a brand new investor looking to buy my first property and came across a 10 unit out of state that has a really good looking P&L. There are minimal repairs needed and the property seems to be in really good shape in a not so good area. The upside is the rent costs per unit are below average for the area and the property itself seems cleaner than most options. I know the risk given the current rental moratorium. It costs 450k and is showing a 40k a year net. I would obviously use a property management company to manage the property.
My questions are..
1. Is this is a smart idea to utilize the majority of my investment capital to go straight into a 10 unit out of state?
2. Wheres the best place to try and get a loan for a 10 unit like this? I knot it needs to either be a commercial loan or a private capital partner.
Thanks ahead of time for any wisdom you can provide.