looking to invest in buy and hold / life hacking multi unit(s). Looking to connect with others about everything I don’t know . Is there anyone in the Maryland/Dc area?
The biggest thing to be aware of is the DC area, and the entire region has an extremely low number of multifamily properties that even exist. To give you some perspective, last year in 2017 there were 218 multifamilies (2-4 units) that sold in the entire metro area, out of roughly 90,000 home sales.
Also the number of multifamilies that actually exist is a shrinking number as they get carved up into condos.
With low supply, and high demand, expect a competitive time acquiring a multi. It can be done, but it can be pretty hard.
Thank you for your advice @Russell Brazil . I will take it into deep consideration , I had an assumption I may have to relocate in order to achieve this goal.
@Diamond Lovelace , I'd second what @Russell Brazil said. You'd have better luck house hacking with roomates via a 2-4 BR townhouse, Condo, or SFR in the DC metro area. True multi-family buildings are hard to come by, and even when they do pop, the price point would make it challenging to break even and live for free (let alone cash flow). That being said it's not impossible, but you should go into it knowing what you're up against and setting expectations accordingly. Best of luck in your search!