Example: Rent: $2,000/month Expenses (50% Rule): $1,000/month Mortgage: $900 Estimated Cash Flow: $100/monthIf the deal still looks good, move to something likeBreak Down of Actual ExpensesFixed Expenses (Every Month) Mortgage (P&I) – Principal & interest from your loan.

Quote from @John McCarthy: The standard answer is 60 Days, however, your lease should specifically state what your terms are that you both agreed upon when the tenant moved in.

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

I use eforms.com for all my contracts and smart move for all my background checks.

You love the house and there is a likely opportunity that you may be moving back to the Austin area.  

My goal is to wholesale some properties single and multifamily to build some capital while fixing my personal credit and building my business credit.

@Joseph Alfie Investing in Greater Grand Crossing can be a solid move.

We completely gutted and finished the basement including adding a kitchenette and 3/4 bath, moved out and are now renting both apartments.

Would love to hear more about your goals and exchange ideas!

Move tenants in immediately and same tenants are still there.