2 Family. First investment many years ago.
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Swampscott.
Purchase price: $265,900
Cash invested: $50,000
Sale price: $300,000
Worked well as a live in income property. VERY badly as a pure income property. Bleeding money towards the end. The rent just didn't cover costs.
Lessons learned? Challenges?
In my market, for residential income, a three family is the minimum # for good cash flow. This was only a 2 family. Our rents were too low.