So here's a rough number breakdown. purchase $1,500,000Loan Amount 1,300,000Rehab+holding+closing costs $115,000ARV 1,900,000new Loan (20 year, 6.25, 5 year)- $1,560,000Cashout portion- $260,000Cashout- FFFF (friends, family, facebook friends)= 10,000Money in deal = 45,000Rental Side of Things (by month)Current Income- 27,000/m (Proforma is 31,500 since I had to rush rent out)Expenses-  (Utilities, Taxes, 25% Vacancy/Management/CAPEX, insurance, etc)- 12,500/mDebt- 11,400/mNOI- 3100/mSomething like that at leastFor the other questions that may pop up:I self manageI doubled my portfolio in one dealI was my own GC for the projectI still have a full time job in securities tradingI worked 110 weeks for 2 months straightI am burnt outI hit a lot of roadblocks including getting sued, vandalized, robbed, and threatenedI had a lot of physical blackouts and emotional breakdownsMy outlook in general on people is definitely more negative However I am also ready to move onThis post was very much to speak on an experience and tell a story. 

Take the emotions out of it If property is in good condition.

Regarding living in Lowell I have been looking into that idea and financially it makes a lot of sense but from the emotional point of view I just want to live close to the city.

Do you feel like giving it a name promotes an emotional attachment to a property?

Start the eviction process and don’t get emotional.

The old lady is a emotional item.

You're describing your emotions about the house...and trying to equate that to how it matters as an investor. 

I would say stock investing is probably 10x harder to learn and there is much more emotional capital that needs to be used than RE.

It's such an emotionally charged thing it seems risky to show up alone on their doorstep-

Now you need to start preparing for marketing, showing, screening software and processes, selecting a tenant, Fair Housing, emotional support animals, collecting a deposit, disparate impact, local and state housing laws, Section 8, your lease agreement, late rent, unpaid rent, partial rent, bounced checks, etc.No worries!