I put 20% (54,000) and then an additional 7% of the loan amount ($15,000) since the bank only offered 93% loan of the purchase price. 

In addition, studies have shown that public REITs outperform private real estate:  https://www.reit.com/news/blog... 

Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too? 

.🎁 $2,000 in Prizes just for joining the challenge!

Of course, I had to make additional assumptions about the cost of property taxes, insurance etc. 

Great day to all,I've just been soaking up all the online youtube videos from Bigger pockets one after the other and I've made the determination to scale my business massively using the multifamily addition into our (wife and I) portfolio. 

Additional Considerations: Costs & Market Changes•Ongoing Maintenance & Housekeeping: STRs require regular deep cleaning, restocking of supplies, and maintenance.

If the addition is not permitted, I would run away. 

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.