This would effectively cover your mortgage and significantly reduce your living expenses.

Rising maintenance costs, turnover, Taxes, and other expenses will also contribute to this.  

However, with high rates, the next mortgage would be very expensive, and a vacancy would be intensely expensive with two mortgages.

Second pro is that you get to lower your living expenses or live "rent free" by having your tenants pay for your mortgage payment.

The reality is that imposing expensive and time-consuming sprinkler installation requirements will drive property owners to either scale back necessary renovations or avoid permits altogether.Currently, when owners propose substantial renovations, they are often informed that their projects will require sprinkler systems, which can cost around $45,000 for a typical three-decker.

The property is likely a little too expensive for me to qualify for with a conventional loan based on DTI.

They say the average amount of water per day a person uses is 80 to 100 gallons , Lets call it 60 to be conservative .

We would need to know your current operating expenses (and rent) to be able to provide any suggestions.

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.

So a loss of about 55k We did a lease to own option so I could immediately take over expenses but keep their primary resident loan and interest rate.We agreed to a deal which would cover all their expenses at closing, their remaining loan balance, and $45,000.