Frank is forgetting selling costs, carrying costs, purchase costs and unexpected costs.

I had already understood that reserves would be needed for the investment property, but six months of PITI on your residential property came as an unexpected requirement, and this notice came after my offer and EMD was accepted.

$10k of unexpected or underestimated repair costs can easily wipe out any expected profits.

Hopefully, by doing so, we can have a smoother turnover with less unexpected work left for us to deal with.

This is why it is important to look into the reserve budget and reserve account to make sure the finances are able to cover future expected/ and unexpected repairs and replacements.

If you leave her on the lease she might create more problems, visiting unexpectedly, because it's still 'her home' and thus she has rights.If they're both in agreement and are willing to give that in writing, I would see no problem in creating a new lease for him, since he's already the one with the income.

I'm a complete newbie, so I don't yet know much about investing, but I'd be delighted to help you research the Boise market if you'd be interested in a helping hand.Thomas

Many unexpected expenses can wipe out $300+ a month in cashflow. 

Success in real estate depends on your ability to withstand set-backs, push-downs and unexpected challenges.

Just be sure you can handle the payments easily because there will be unexpected costs.While you are working at your j.o.b. you can be studying and you can go to investors' meetings if there are some near you.