All in cost ~750k, revenue possible at 90% SS and 60% parking roughly 175, operating expenses on the conservative side of 50k leaves 125 for P&I and profit.

Increase earnings, reduce expenses, save up, and buy one property.

Reminder to always keep a record of all rental income and expenses for tax purposes.And that’s pretty much it.

Since the money is still tied to your rental business (paying off another rental), the interest on the new loan would usually be deductible as a rental expense.

STR arbitrage is getting more expensive as everyone is force to add more amenities.

Just imagine reducing your living expense, owning an asset, and having your tenants pay the bulk of the mortgage, then repeating this a few times over all while every year the rents go up.

So at a  minimum you need to be firm that the rent is enough to cover your expenses (including insurance, PM fee, capital reserves for repairs)I'd go on Facebook Marketplace and on any Facebook Groups you find for KSU Housing and post it there (at a rent rate this is actually covering your expenses) and see if you get response. 

It’s frustrating losing out to those that do, but remember that they may be buying expensive future headaches along with the house.

Just like anything in life.Once you have made the decision, this is what you want to do.You need to have tunnel vision on your goal.If your saving up for a down payment, work an extra job, side hustle, reduce expenses, whatever.Finding cash flowing properties is not hard to come by, your first property does not need to be perfect or give you the absolute best return; you need to acquire it as soon as possible to start the compounding effect.Hope that helps :) Lets get to work

Cheap is expensive in the trades.