Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

I’m in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property.

I am 1600 miles away from three residential properties I just purchased in Jackson, Mississippi. 

Once the 1031 is complete the LLC dissolves and again the property is distributed to the former members, including the properties just purchased in the 1031 exchange (which each member probably picked out for themselves).This method solved the feared "held for investment" issue. 

This sounds like a home run and a great first purchase!!

Purchase price: $110,000 Cash invested: $45,000 Recently purchased my first house to use as a primary residence, currently I am renovating the kitchen and adding a full bathroom to the first floor.

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

My mother-in-law wants to help my husband and I on our first real estate investment purchase. 

The one's I prefer handle everything in house, from purchasing the home, renovating it, renting it, then selling to an investor then managing for them on the back end.

That was the only production schedule I was given even though I specifically earmarked the buildings I was purchasing in the project.