You control a 1.5M asset for $35k and get to live in an amazing location.

As your portfolio starts to increase, you can start creating single-member LLCs where the property is located, and then you can put all these LLCs in a trust.

My area for example has to have certain signage and an emergency shut off button located directly by the hot tub. 

Hi Matthew,I am located in Roseville CA which is just north of Sacramento.

Proactively managing tenants greatly reduces evictions and other problems.Finding a Good Property ManagerGood property managers are rare, so finding one requires a structured process:Define Your NeedsList required services based on property type and location.

Location of property How did you find this deal and how did you negotiate it?

Including the location that you are looking into doing this in, if you have a p.m. or not, and who that p.m. is, and their level of experience with it, or if you are self managing, And so much more.

But as far monthly payment you could easily buy a house in a cheaper location have less roommates and the same monthly payment or the same number of roommates and a lower monthly payment.

@Landon Sheveland  don't think your renovations will overcome a bad location. 

Our home is located in a great neighborhood, right next to excellent schools, close to several hospitals, and other amenities.