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Updated about 2 years ago,
Analyze 2nd rental purchase
I have 1 SFH as a rental. Net rental income is $1600: $900 cash flow after expenses.
Should I buy a 2nd rental (SFH) that will barely cash flow? This house market rent is $1300 and expenses are $1200 so only $100 cash flow. But in 10 years it will be paid off and cash flow will be $1000. ( its rent- ready no repairs needed)
PP $138K, 20% down PITI $1000 $200 to cover maintenance/misc.
Good deal, or pass? I really like the house.