First Poperty: Triple Decker vs Condo in Boston

[Reese Millican]

Hey BP,

I am a renter in Boston who wants to get into buy and hold/landlording in Boston MA. My cashflow is $2300 month net, and I estimate $1300 month maximum to pay for housing after non housing personal expenses.

I can already afford a condo, especially if I split it with someone, and come out ahead. However I want to make a profit, even a modest one with my firsr unit. Is it even possible to turn a profit renting a 2 bedroom condo in Boston if you live in one of the bedrooms?

My impression is that a 3D is the way to go if you want to turn a profit within your first months of renting. The plan is to live in one unit and rent out the other two. I would probably plow the first couple years profit into an emergency fund for repairs and possible evictions. I hold the place forever, and when the mortgage is paid I have passive rental income. However, I do not think I make enough to afford the mortgage and escrow on such a place now without rental income. With more income does a 3D in a place like Roxbury, Mattapan or Dorchester make sense? I know they are rough areas, but maybe do section 8 to get gvt assistance?

Lastly, I would like to more income and am interested in working in Real Estate, particularly in distressed mortgages or underwriting. Anyone have any leads on Boston jobs in this field?

Thanks you as always BP for any advice.

Reese