You also want to figure out if the juice is worth the squeeze (for you personally).

The Juice was simply not worth the squeeze.. same amount of equity in paid for assets for us is so much easier to handle and buying quality assets.. 

The leasing fees are the low hanging fruit that makes that business even worth pursuing.

Especially when there are tons of incentives for grabbing that "low hanging fruit," like there is in your particular situation.IMO your 'low hanging fruit' would be utilizing the new-ish Fannie Mae rule allowing only 3.5%-5% down for owner occupant financing (house hacking) on ALL small multi properties (anything under 4 units, so duplex, triplex or 4-plex).

Hey @Michael Ellis - I have experience with neither but can tell you that this form is probably not going to yield the most fruitful result. 

This is one of those posts that I will need to return to frequently to re-read it to pull out all the juice I can.

The goal is to look at a property and analyze how much juice can you squeeze before moving forward.

He was talking condos, but for some fun, out of the box thinking to get your juices going - I would totally take your budget and get as many mid-century bungalows in Burbank between Magnolia and the Chandler Bike path that haven't been remuddled, with the original wood floor under carpet. 

I purchased another property in the Palm Springs area that I converted into an STR which is also cash flowing.Yes, there are absolutely cash=flowing properties out there but they are not low-hanging fruit. 

If none of this bears fruit and you don't care to spend $60,000 you can get a septic system put in for around $6500.