Use properties you purchase, combined with co-hosting, to scale smartly with less money in. 

Before locking anything in, I emailed the listing agent to introduce myself and make sure I’m not stepping on any toes.

Welcome to Bigger Pockets @Mark NewtonStarting with a small multifamily you can live in is one of the best ways to get your started, build equity, and learn how to manage tenants.The first deal will teach you more than anything else, and once you get through that, scaling becomes a lot more straightforward.

@Nick Mittler As you assess what resources you currently have, being local to an affordable market (which people from everywhere else invest in), is an asset.

@Johnery Laurimore two things will help provide you with the best response. 1) What state do you file taxes in? 

While I don't know the specs of the unit you are in, I think an interesting way you could think about it would be to live in the 3 bed and rent out the other rooms. 

All-in, I lost 1 month of rent + the 1 month cost to the property manager.What's the best way to try and minimize my loss this time around?

After narrowing down the city, I then had to consider what neighborhood should I invest in.

@Chris Watson, also true — I’ve seen beachfront and amenity-heavy condos outperform nearby homes when the buy-in is right.From a tax view, condos often win short term because less land = more depreciable assets under the new bonus depreciation rules.

Quote from @Jay Hinrichs: curious what is the asset catagory that you invested in ??