Whats the best to go about this ?

[Michael Bangsal]

Hey BP,

I'm ready to jump into my first real estate investment property with the following opportunity described below. Let me know whats the best way to go about it.

So my brother will be stationed in the Military in San Diego starting April. He will be there for a minimum of 2 years and up to two years. We came up with an idea to BUY a property (single family/Condo: 3 bdrm, 2 baths) and rent the two other bedrooms to his two classmates. We took the average rental for a 1 bdrm, 1 bath in Oceanside, CA. and came up with $800/per person. This gives us $2400 (including my brothers rent) to have as rental income.

Our Goal is to be positive cash flow. 

We're also thinking about using a VA loan to finance the home.

Our downpanyment can exceed 20% but it will all depend on how much cash flow we can generate.

Any advice/opionion is appreciated.