Namely, I'm thinking of utilizing to Ellis Act to remove the tenants.

He said we would utilize a payment service to ensure payments are made, and also a "performance deed", so that if they stop paying I could reclaim the property without going through a year-long foreclosure process.  

If we Just rent one room out, it will cover our mortgage and utilities and still some cash flow. 

Underwrite allowances for - Vacancy, Prop Taxes, Insurance, Utilities, Repairs & Maintenance, a Reserve Account, and Property Management. 

financing, taxes, insurance, deferred maintenance, groundskeeping, shared utilities, property management...like i said, i'm skeptical that it will truly cash flow as much as you think it might.

Hi Cody - I utilize programs for my clients with sub-$100k properties all the time.The minimum value is $75k (though I have dipped under that by exception), with minimum loan amounts of $50k.

Related to this, please also make sure and get a utility planning study done as part of your feasibility process.

Hey Jene, To ensure the viability of your strategy, you'll need to utilize several calculators.

Loan Options: Utilizing an FHA loan is helpful since it requires little down.

Tyler  Hey Tyler, There is no gain to be had by utilizing those tax benefits since the the IRA is likely already not being taxed.