The result will be cash flow.So if you want to combine the best of both worlds, set up a small business for cash flow and invest in real estate for long term equity.

It is the only property that I own, and my reason for buying it was because I wanted to have the freedom of renting combined with an ok investment--and that's what has happened. 

My interest in investing in the construction of a new single-family residence (SFR) on the West Coast of Florida was driven by a combination of factors.

-reliable "handyman" who can deal with minor repairs (make sure licensed and insured)-tenant self-inspection app or use third party service for inspections-vendors to service home functions, e.g. plumbing, electrical, HVAC, etc.

Cash flow is a function of your leverage. 

I would check the median income of the area.It is a function of price and return on effort.

A private lender would look to the equity in both properties combined, placing a 2nd mortgage on the existing property and a 1st mortgage on the new property. 

The answer is probably simple and I apologize but my brain isn't fully functioning after staying up all night running numbers. 

Once rents are optimized, the combined monthly rent will be around $4,000.

The opportunities come from solving a problem or combination of problems that others cannot or are not willing to solve themselves.