First Investment Insight/ Advice

[Nathan Astrup]

Hey Team,
Im a real estate agent in Cleveland and I'm gearing up to make my first investment.
Background: Strong backround in construction and real estate.
Finance: minimal down payment, financing available.

My niche is going to be buy-and-hold rental supplemented by an occasional rehab.
Im looking at duplex properties in the 50-70k range and I'd like to live/rent my first and save money for subsequent investments.
I've calculated for 10% vacancy yearly, 15% repair funds, and 25% emergency replacement funds, PITI and possible PMI. These are derived from Gross Operating income. I'm basing rents off comparables and they are on the lower side. I ran two sets of numbers (me occupying, and me not occupying a unit) And I plan to contribute monthly to add to the GOK, god only knows fund.
Are these safe and conservative numbers?
What are some potential pitfalls/oversights?

What are some viable options for lending that positions me with as little of my own money down while minimizes PMI if not eliminating it?

I guess this could be another topic on it's own, but my long term goal is to have 20+ properties paid off in 25-30 years. I've yet to find literature about how people have done this but I know it's possible. What are some ways investors aquire that number of properties, short of having tons of cash!?

As always, thanks for your input and support.

[Jonna Weber]

@Nathan Astrup 

I guess this could be another topic on it's own, but my long term goal is to have 20+ properties paid off in 25-30 years. I've yet to find literature about how people have done this but I know it's possible. What are some ways investors acquire that number of properties, short of having tons of cash!?

There are several great books that address your exact question.  

Check out @Brandon Turner 's great new book here on the site, (Investing in Real Estate with Low or No Money Down).  Also - as an agent, you would probably enjoy Gary Keller's Millionaire Real Estate Investor.  Gary wrote the Millionaire Real Estate Agent as well.