I typically like to use a solid surface over formica more for maintenance and longevity.

Successful investors focus on potential appreciation, low-maintenance properties, and networking with agents and lenders.

of course all of those things help cash flow but is it realistic will it work.also your more than 300 negative as you have no money for maintenance or cap ex.the easiest way is to reduce debt. or if you think there is really good upside just pay the negative its just a small number who cares . 

Are you planning on hiring a property manager or someone who can respond to maintenance emergencies for you? 

Purchase price: $245,000 Cash invested: $50,000 This was our primary residence that we are lived in for 6 years while we fixing up and renovating. 1963 farmhouse that was outdated and loads of half a$$ work and deferred maintenance.

Of course insurance or taxes or maintenance up, rent goes up.

I will provide all the upfront costs (down payment, closing, etc.) and he will be the property manager (finding tenants, maintenance, etc.).

Most of my properties are older (15-30 yrs) and maintenance is becoming a creeping problem. 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.