You thought of buying a duplex and renting another side out for cash flow or to cover your rent and live rent free is a GREAT idea!

@Amanda Williams & @Steven Thomas - Please keep me updated :)@Cameron Terry - I'd definitely be interested in getting into wholesaling but I don't have much of a network here (Chicago transplant) - How time sensitive has wholesaling been for you?

Ogden has great fundamentals for investing, strong employment, low cost of living and increased population of both natives and transplants to the area.

This area is huge for renting to college students/staff from The University of Iowa with lots of potential growth.I graduated with a Health Science degree and currently work full time for a Bone Marrow Transplant Program at The University of Iowa Hospitals and Clinics.

A few years before this purchase my former boss would always talk about how I can move to NJ, (what was a 30 min drive from my Upper west side NYC Job) buy a house there and rent a portion of the house out and practically live rent free.

I live really close to both.

Started transplanting trees along side of old farmhouse for visual break.  

Because of my low income on paper, the only loan for which I can qualify now or in the future is an asset-based one, thus, in the future I wouldn't be able to easily access the equity through a HELOC or refi.The only debt I will have is 5 mortgages; I live rent-free in a room in one of the 5 properties; and the section 8 guaranteed rents for 4 of those, plus the reliable short-term rents from the high-end rooming house, cover the debt service and will cash flow $84,000 (or a proportionate value as rents and expenses rise) for the next 10 years, at which time I'll be 61.

WANT To LIVE RENT FREE?

You may even find that the other rents will more than cover the monthly mortgage payment, thus allowing you to live rent-free and start accumulating a nest egg to roll into another property!