I forgot to add that the insurance and tax is included in my mortgage of $2,005.

Same answer whether you borrowed against your residence or against your rental A or against your life insurance or from your family or from any other source. 

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!

That is just the loan payment and doesn't include your insurance and taxes like a typical mortgage payment does. 

there has been a lot of talk in the industry about building multi generational housing..

At BPCON2025, you'll learn from industry leaders, connect with like-minded investors, and discover pathways to financial freedom.

My personal experience after 40 + years in the real estate industry is that “wholesaling” is a very INEFFICIENT AND INEFFECTIVE way to gain knowledge and experience relative to real estate.

Marketing, screening, collecting rent, unpaid rent, maintenance, capex, insurance, lawn care, vacancies, turnover costs, inspections, and so much more. 

@Richard Anderson: You've piqued my interest.Do you happen to know if there are guidelines in the banking industry as to how to handle the Due on Sale Clause when a seller sells on Executory contract to another individual?

I would love to eventually look more into hotels and perhaps the restaurant industry.