The lower rate decreases my monthly expenses, increases cash flow, or gives me a higher LTV.Increasing Rents with Co-Living:I have changed my rental strategy to Co-Living (rent by the room).

I am a contractor and we live in a great neighborhood so the house would be a great investment if we can purchase at the right price. as it sits the house is prob worth 100-150k.

@Peter FirehockI live in the area inside the beltway and developed Oronoco and worked on Robinson Terminal South.

Hi Vinay, I have been living in the Jersey City/Hoboken area for 14+ years...and also have a few rentals in the area. 

Check those to see who lives the furthest away of the absentee owners and start there (or with the oldest people).

It's probably the best way to get started and learn what it's like to own properties while gaining equity and limiting your living expenses.

Live and learn I guess haha.2.

And I would perhaps instead start with one to make sure it's going to work well.On another note, living near the Swannanoa River myself, your comments about building cabins on a river give me pause.

Not having kids, the property served as a write off as i had moved into an apartment in Phoenix. 18 months after moving to Phoenix i purchased a single family home in which to live in Scottsdale, AZ.

You can give notice to one of the tenants, then move in and rent out rooms to further cut your living expenses.Yes, something I've considered but does require me to move from CA to TN, so big life change.