If you need financial help, ask under the "Finance, Tax, and Legal" forum.

We have a RE attorney & mortgage broker to make sure our operation is legal & compliant.

Tax and Legal ConsiderationsUnderstand the tax implications and legal responsibilities associated with rental income.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

None of us can give you legal advice!

Hi @Heather Bailey something to consider with this is legal mother/daughter may not mean legal duplex. 

This also leads owners to ASSUME simpler is better when it comes to management contracts.

I say it is the first deal because it was brought to me by the owner before placing any other deals under contract (which I have done in multiple states) legally, and ethically.