Rent out both units to cover the mortgage while we subdivided the land and built properties to sell on the back half of the land.Option #2: 1 year - Same as option 1, however, instead of building more units, sell off the lots to builders.

And in my opinion, his book covers everything a newbie needs to understand: from asset selection, to evaluating sponsors, to capital structures.

Otherwise, you won't have the extra funds necessary to cover the rising costs of goods and services in the future.What causes rents (and prices) to increase?

So at a  minimum you need to be firm that the rent is enough to cover your expenses (including insurance, PM fee, capital reserves for repairs)I'd go on Facebook Marketplace and on any Facebook Groups you find for KSU Housing and post it there (at a rent rate this is actually covering your expenses) and see if you get response. 

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

The main question a buyer has is this - "how much of my mortgage will this cover"

That is $500 easy savings by shopping around, but make sure you are adequately covered. 

I know we won't come close to covering our living expenses of around $130k per year initially but I need to make a change.

I have a course on creative financing that covers both of these. to answer your question, When dealing with **seller financing** and **subject to** deals, the structure of the payments can vary depending on the agreement between you and the seller.

So I believe mortgages will look at DTI and want to make sure your income covers your current and future debt obligations at a percentage of 40-49% I believe, so their multiple would be more like 2-2.25x, but it's not a real apples to apples comparison.