This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.The BRRRR is alive and well.

@Andrew Foster some decent advice here, but also some feedback from those who really don't have enough info to support their perspective.Many DIY investors price repairs on materials only and forget about labor as they do their own work.We're a PMC in Metro Detroit, but here's how our process would work:1) MoveOut Video & Pics used to create Scope Of Work (SOW)2) SOW broken down into Priority Categories:- Health & Safety- Government Required (municipality/S8 inspection requirements)- Property Preservation- Marketing Impact / Tenant Retention- Miscellaneous3) Bids obtained if we feel work will exceed Owner Approval Threshold4) Bid sent & discussed with owner to, "redline to their budget"5) Work begins once owner approves & funds6) Completion video/pics providedOf course, while this is going on our Marketing Dept would be doing a rental analysis & ad, and discussing with owner.

I've decided to wait it out until I can comfortably afford a multifamily.

A bit like having a health coach sit in on your doctor's appointment to ask the questions you might not have thought to ask.

I could add storages downstairs, but only the market rate unit would probably be able to afford it but in the future, they may all be market rate units so should I add four storage units down there?

Don’t forget backup plans.If the roommate moves out or pad-split demand slows, can you still afford the payment with just the $1,500?

It’s what you can afford right now, and more importantly, it gets you in the game.

I started from the same place, thinking, “How will I ever afford to buy another property?”

Midwest markets like Columbus are great spots to start landlord-friendly, affordable, and full of value-add deals.

Bank statement loans can be a middle ground if your business income is strong and consistent.With $30K, you might look into more affordable Midwest markets where single family homes can still cash flow and meet the 1% rule.