I want to live in one unit and rent two other.Asking - 249000All three units are rented.Monthly - 2200 ( for Two units, since I am going to live in the third unit)Taxes: $7,663> Insurance: $3,495> Oil: $2,600> Management fee at 6.5%: $2340> Sewer and Garbage: $1100> Lawn and Snow: $900> Water: $840> Cleaning: $400> Electric: $240> Rent License: $115> Vacancy: 2640> Total: $ 22333.00> Net Income is therefore 26400 - $22333 = $4067Am i missing anything?

The kitchen needs a rehab.It's an oil furnace which would have to be converted because I can only imagine the heating bills would be insane to heat the place.A local realtor thinks 250 max for the property, but the seller wants 400.

My friend who has all of these properties (and just purchased one in the Bahamas) also had trouble getting a personal mortgage for a house he wanted to live in so it is discouraging to me being the small fish in the sea.

@Azeez K. congratulations on getting a big fish on the hook!  

I've worked for a hunting outfitter in Wyoming before and I absolutely love the outdoors(Skiing/Snowboarding/Hunting/Fishing/Camping/Golfing, etc.)During the honeymoon I would like to be visiting some investor-friendly towns that have a close proximity to the mountains.

So start marketing ASAP.Nothing happens until you get a fish on the hook.  

Obviously everyone is going to be partial to their city, I don't think anyone can deny that since most of the Houston oil people are working abroad that this is probably one of the hottest real estate markets currently. 

I'm a small fish in a big pond...but one day will become a shark!

I've managed to contact the cousin and have a meeting with her and her husband to discuss selling me the property next week (when her husband returns from a fishing trip).  

For the past 8 years I have been working rotational shifts in the oil industry.