Interest only loans allows them to get a goal profit of $500-$600 per month per property.3) Each acquisition would require 20-25% down at an 80-100K purchase price. 4) Closing costs, and the Eric Spofford turn-key transaction fee of 10K would be in addition to the down payment and were not included for the purposes of calculating the cash-on-cash return.

Is there the option to rent a bedroom on your side of the duplex for additional income?

In addition, I am considering changing my furnaces/boilers to have plug-in cords instead of being hard wired so that if there is a power outage in winter that I could power that heating system with a portable power station.

May I reach out to you with additional questions?

However, I definitely recommend pictures any time a guest left damage or extra cleaning that will result in additional charges.

After a couple of years of treading the path to frugality to build this financial runway, I've networked with the greatest people who made this all happen, of course, it took the strength, determination, time, etc to place myself where I am today but, without the mentorship of my two great mentors whom I wish used BiggerPockets so I can mention, I don't believe I would have made it thus far relying on some whimsical dream that this will all pan out accordingly, thank you for everything Greg and Lashawn.In addition, I would like to thank Bigger Pockets for connecting me with the greatest realtor @Stephen Schmitt Who took my dreams and aspirations to the core when we first connected and spoke about my future goals to replace my W2 job for financial freedom. within three months of me deciding to pull the trigger and get pre-approved, we found this killer cash-cow that apprised over purchase price!!! 

If you STR part of your house while living in it, please share what you have learned from the experience.There's a valuable thread called "House hacking at 22 - What I regret..." by Jake Andronico that’s worth reading.

Connecting with local experts can also provide valuable insights to refine your strategy.Good luck!

So, the additional cost to them is more negligible.

Usually companies are charging 10% on top of maintenance repairs, in addition to one months rent as a placement fee for leasing unit.