Looking to get started into Investing in real estate. First home I am looking into is a Multifamily home. My plan is to live in the home for awhile with my daughter and wife but eventually buy another and rent out the whole unit. What are main things I should look for in a home to make sure I am getting a good deal ? Also I saw where someone says whatever rent you collect you should take 50% out for cost not including mortgage. When I do math this way it seems almost impossible to find a good deal that will have cash flow although I live in southern California were prices are ridiculous right now. Any other things I should take into consideration would be helpful thanks!!
When you are looking for multi family properties I have found that the Calculators at Bigger Pockets are great for getting some quick answers. There is one specifically for Rentals and it will make you answer some standard questions regarding the property. It will help you get a handle on some of the things you want to make sure you take into account when analyzing a deal like capital expenditures, vacancy and property management. I live in California as well and prices are crazy but if you are looking to house hack then sometimes the numbers start to work better if you start looking at 3 or 4 unit properties... If the price is right.
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