You will be living in someone else's house.

. - 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.

So - somewhere 2 hours away, or somewhere you like to vacation in, or where all your family lives, or where you plan to move someday.Too many people are trying to do exactly what you're doing - pick a market based on a formula - and they end up buying a random 'cheap' property thousands of miles away, turn it over to people they've never met or even spoken to, and then... lose money.  

And communications from REI is far above the industry average that I can tell you.SFR rentals are not a get rich quick or cash flow to live off of.

I am new in BP, and I am looking to understand where I start with learning about REI.I currently live in New York which it's not a good place to start investing.i know the difference between STR,MTR,LTR....

I have about $80k in a HELOC on my current home where I live.

@Blaise Bevilacqua - I agree with the added expense items that others have called out including vacancy, repairs/maintenance, capex, unit turns, and low insurance.

Loss of use is foryour additional expenses if you can not live there due to a covered claim (ie.

@Jim Stanley Keep in mind any expenses of your SDIRA asset must be paid for by the account that owns that asset. 

Years ago I had posted about Shared living.