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.

I chose a market I was familiar with and have personal contacts in.

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

Sounds like you’re in a great position to get started, and it’s smart that you’re doing your research before jumping in.

@Lee Banks New York is an expensive city to live in - is this by choice or for work?

In the new lease, I’ll be asking tenants to pay all utilities (I have $5k electric work to do to split the electric as it’s combined for the entire building).few questions.1) in the vacant unit (upper unit), the existing tenant’s family wants to move in.

How’s the area you’re currently invested in?

The Pigeon Forge area is pretty saturated and anything in Florida has super high insurance rates.I'd identify properties and run the numbers along with insurance quotes.If you get a good enough purchase price you could likely make something work.Look at travel times to attractions, amenities, views (water, mountains etc) and see how your local competition to any subject properties your interested in is doing.

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. 

Hi Santa Cruz Folks, Would you like to set up a Zoom call to check in?