Stay focused.4.Master your market.

But they want to stay in the home.

Overall, Section 8 is a good way to get some pretty reliable income to get the property cash-flowing, provide additional experience, as well as with the required annual inspections, make sure your property stays in a good condition! 

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.

It could even be (more) interesting from a lifestyle point of view as you'll get to stay in different cities/houses every time you go.

But my experience over the last 10 years of building new homes is that NOTHING comes down might stay the same but will rise almost annually Like Cement always goes up in Jan. 

Staying on the same page and building trust.

@Fareen E. as long as you don't violate Fair Housing and are CONSISTENT, you can do whatever.If you require an ID from EVERYONE, you are safe.

Each night of the week has a different price based on market trends for short term stays, not annual leases. 

I’m looking to stay with CRMLS & move to an MLS only broker.