If there's a balloon payment, you'll recognize that in the year it is received, so it's not always completely proportional.This can be a relatively complex topic, but if you'd like, you can schedule a free consultation on my website linked here.

I was just wondering about this for one of my clients, great topic though.

If you can get a single family home and have roommates, that's the most approachable strategy and will really allow you to know rather quickly if you hate managing rentals or not.Here's my experience starting at 22, and what I regretted from house hacking: https://www.biggerpockets.com/forums/922/topics/1133476-hous... 

Here's another helpful thread on the topic here: https://www.biggerpockets.com/...

The topic is really broad.. and you are basically asking for "tell me everything"... so I will start off by saying that there is no way we could ever tell you everything you need to know... its just too nuanced and too many variables to possibly explain in a post.  

that means - no offense - anything that you can get without doing any work, or anything that someone serves up to you on a platter, or anything on the MLS - has been passed on by lots of other potential buyers.so with that said, here are my answers.0. read this thread.https://www.biggerpockets.com/forums/48/topics/1159104-overl...1. don't pick a random market. pick one you have ties to or know well or can drive to or hope to move to eventually or like to vacation in.2. do some more reading - books, forums. 

@Jennifer Panian Here's a helpful article on REPs to help clarify a few things, including material participation https://www.biggerpockets.com/forums/48/topics/1219412-real-...

This is a complicated topic.

It’s awesome that you and your wife have been so intentional with your savings and are ready to invest with a multifamily—great way to build long-term wealth.On the topic of new builds vs. existing properties, I totally understand the hesitation with new construction.

You might want to also check out this other thread https://www.biggerpockets.com/forums/51/topics/816680-real-e...