For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

I was interested in something like owning a rental property as a way to generate some additional income. 

I’m considering amulti-family property in the 76104 zip code of Fort Worth, TX, and I’d love your feedback to help determine if this is a good deal.Property DetailsAsking Price: $169,999 (seller says it’s negotiable).Current Rental Income: $2,400/month (duplex is vacant).Configuration: Combination of duplex and triplex units.Some units are rented at below-market rates.The duplex and need rehab.Historical Income: Seller claims it previously brought in $5,000/month when fully occupied.ConditionBuilt in 1934, so it’s an older property.Some permits were recently pulled (e.g., plumbing, window replacements, and sheetrock repairs), but it still needs work to get the vacant units ready to rent.It’s located in a neighborhood with a higher crime rate but also near major highways and areas with rental demand (e.g., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.

After that's under control, focus on increasing income through additional work at your current job, taking on a side hustle, or finding ways to increase income on your existing rental.At the same time, educate yourself.

In the past, I cashed out my 401K(Paid income tax + Penalty).

Insurance-  we had 18 months of full lost income coverage.  

Asset manager role would be to give advice on property that could be value added and increase the income on a property by small or big tweaks.

Yes it will have UBIT on the portion of the income pro rata to the mortgage.

The majority of my income comes from my rental portfolio.

“A new Michigan law bans many landlords from rejecting tenants based on source of income, like housing vouchers, veterans’ benefits or Social Security.Gov.