i just did the math with the 50% rule. your cash-on-cash return is 5.5%.you would have some equity though so your net worth went up instantly.

May be grandfathered as garage, but generally a dwelling needs to be a minimum of ten feet off property line.

It is important to know that NARPM members typically manage single family homes and small multi-family dwellings.

I am a Realtor in upper SC and have seen many instances of people getting licensed and thinking its going to be instant success for themselves.

I will get back about $2K at refi closing (would be $8K if I had the property for six months before refi) so In the end I will have about $15K cash out of pocket but an instant equity of about $33K plus monthly cash flow.It all depends on your area as far as what is achievable; in Houston, the housing market is cheap and exploding.If you want to be completely passive then you should look into a property management company; in the end, its all about the numbers.

Buying below market gives you instant equity as well as insulation against unforeseen costs, slowing markets, etc.

My wife and I are partitioning part of our property and we are going to build a single family residence on the new lot to hold and rent. I am looking for advice on the size of house to build. The lot size will be...

Are you thinking of buying it as an owner occupied dwelling?

Or is there a way for me to buy it with no money down since I will have instant equity?

Additionally you can find things like lots with multiple homes on them or a property with an accessory dwelling unit over a garage for extra income.Are you willing/able to move to SLC or Provo anywhere in between?