Quote from @Logan Williams: As a former student at the U of A, big rival games, homecoming, and greek life family weekends are a huge influx of people looking for lodging, with only a few hotels in close proximity to the University, STR's that are attractive can be few and far between.

Though I appreciate the idea of finding online resources and studying them, I find that a curated, tried and true formula (if it works) is much more worth my time than spending time trying to find which resource works best and then spitballing the ideas until something sticks. 

Think of it as free vs pay to play video games.

How do you balance the wants vs. needs game while still enjoying life today?

This is my first property so of course it's harder to keep my head in the game with %100 vacancy. 

Your presumption that the balance of $170k is at an LTV higher than 100% does not hold true.  

Quote from @Luke Machen: Hey all - I'm new to the RE investing game and have some (probably dumb) questions regarding cash on cash returns.

It is a true 2 bed/2 full bath, so I'm assuming it would rent similarly to a 3 bed/2 bath in the same area.

There are exceptions - some properties are set up such that installing a few electric baseboard heaters might be possible to save on the gas bill - but i would still just shy away if not metered separately at the outset.  10) do shop for a lender and compare (usually pretty standard but there can be some fluctuation) - dont fall for the ones that sound too good to be true - there are gimmicks out there - big bank or reputable broker should do you fine.  

Hey Ximei,I totally understand wanting to maximize the impact of your initial investment, and if you're open to taking on a bit more complexity, the BRRRR route can be a game changer.