We lived frugally during our first years of marriage and we didn’t go out to eat often, we packed our lunch for work each day, and we drove the same cars we had since high school.

I am trying to build a rental portfolio, but I don't want the HELOC loan eating away at the monthly profit.

I know its a chicken-and-egg problem, but its one that all new investors go through.  

So I didn’t care about sleeping on plywood, taking cold showers, and eating sliced meat sandwiches.

That PMI you would have had to eat because it is your personal home, now can be written off in taxes with a house hack.

Otherwise, you probably are going to have to eat those costs. 

I'm aware of the dangers of doing business with friends, but I wouldn't rent this furnished house out to anyone else, and I'd rather not eat the $1900 mortgage. 

The roof may have 5-10 years left on it.The $30/month does eat into our monthly cashflow, but want to get the pros and cons of both.

I am currently making my way through Brandon Turner's property rental book and one of my questions is, during your analysis of the property and initial estimates- how do you account for property tax - or the potential for it to eat up your cashflow at some point?

As mentioned earlier, low rent properties have risk in that one major repair like a roof can eat up many months or rent.