Multi Family Properties & Cash Flow Arms
Help! We just bought our first home and we are thinking about partnering with a trusted friend to buy our first multi family property.
We all have good credit and have a combined annual income of 100k. We are looking to buy in the Bay Area, California.
We've been looking at some multi family property listing sites and we've been seeing say, a home being offered for $600k with three units and the total tenant rent is under 3k! How would we be able to ever receive any profit ..
Can we:
1. Look into ways we can creatively finance the property -- I hear a cash flow ARM (5 year fixed) is a good deal
2.Evict the former tenants once we obtain the property and raise rents for new tenants?
Any advice would be appreciated. Thanks!! 
1) Yes
2) depends, does the tenant have a lease? If so then not until the end of the lease period.