Not a lot of folks running around on auction day with 500k t 5 million in cashiers checks like you see out our way.. :)  This is why Pace Morby was so timely with his sub to training and methods .. 

(There's a continuum, I get it - but hopefully the sentiment lands.)Of your "questions" at the end of your post, I think your first outcome (1.) is probably the most likely and I would begin preparing for that eventuality (i.e. engage a L/T attorney, procuring cash reserves for non-payment during eviction, funds for extensive renovation). 

Many people don't realize that even a title commitment, a contract where the insurer agrees to insure title if its conditions are met, limit liability to the amount the proposed insured spends in trying to meet the commitment requirements. 

My main interest right now is house hacking — I’d like to buy my first property within the next couple of years and turn it into the foundation for a rental portfolio.I don’t come from a real estate background, but I’m committed to learning and putting in the work.

Also it’s usually the side that has less to offer that is the most against prenups… IMOPrenups are for insecure people who aren't committed. :-)My first & only wife and her first and only husband (me ;-), We have been married 47 years now, with I hope, another 47 to go.

Before I commit to buying my first property this year - perhaps in haste for the tax purposes - I want to gauge how much one could leverage multi-family properties in my situation vs. other real estate investments (e.g.

@Juan David Maldonado, by useful, I mean that the property manager for this venture believed that any longer than 4 months then the prospects would not be considered active and are very likely to not commit or change their minds on the property.  

-Skin in the game: I want to see you’ve got some commitment—cash, equity, reserves, or something tangible.

If you come in heavy-handed you will scare most your tenants and they will commit to leaving w/o telling you.

Quote from @Aaron T.: Quote from @Max Emory: Hey @Keetaek Hong, did you end up going with a specific software?