Getting a duplex and making slim margins of profit vs triplex and few hundred $ more in profit

[Matt M.]

So basically heres my question. $70k duplex, with the cost of mortgage I'll make just a pinch over the requirements and put a few bucks into my pockets.

Vs

triplex, around $80-85k, and a few bucks *more* into my pockets. Is it worth the added costs/repairs of the triplex over the duplex for the few hundred more/month I'll be making?

[P.J. Hankins]

I agree with Troy Fisher. More cash flow is always better.

Will the property be managed by you or a property management company.

I've owned two rentals now for almost 5 years. One thing I can tell you is that I wish I had purchased at a price point that allowed for property management. I want to be an investor, not a land lord. I understand that I had to start somewhere, and the positive side is that I've learned and am using what I learned to buy the next investment.

Some times the little cash flow compared to the inconveniences of land lording can have you feeling like its not worth it. I've had to tell myself, at those times, that the tenants are paying my investments off and that kind of helps me keep on keeping on with these properties.

As we are shopping for our next investment we now build in management costs,that way we can be at arms length.

I'd be interested in hearing feed back on this, but an added benefit, for me at least, that I'm finding when I force myself to build these costs in, the quality of investment seems to improve, and with that I feel it sets me up for a bigger success.

PJ