This is how I see it.. 259,000.00 Sales Price 64,750.00 Down Payment (25% Down) 10,000.00 Updating fourplex 74,750.00 total cash Investment . 1,294.00 Principal and Interest - assuming a 7% interest rate 580.00 HOA 400.00 Water - (may be mitigated via coin laundry)  447.00 Taxes 103.00 Insurance (may be mitigated via insurance credits) 200.00 Repairs (monthly estimate) 3,024.00 Total Expenses - Cash Outflows (3,800.00) Rental Income - Cash inflows . 776.00 Monthly Cash Inflow 9,312.00 Yearly Cash Inflow 12.46% ROI (not included here is capital appreciation)

I opened a TD account just because they had the free change machines that I could cash in from my coin ops.

I have worked the same strategy as you are now implementing (@Brandon Turner coined the term, house-hacking), only a little south of you in Philly!

It's a coin toss as to which way any given tenant will go.4.  

One added income thing you can do is add coin laundry.

I wouldn't flip and hold inside the same one.I run my business (my mgt co) in an s-corp.  

Probably in Greeley, CO, in the $180-210k range.  

As well, it may require the outlay of some cash for the purchase of income-producing assets, like a coin-operated washer and dryer. 4.  

I have wanted to buy something in this neighborhood for a long time.I have networked with someone who is recommending setting this up as a rooming house, no leases but billed monthly (not weekly).Here's how it pencils out:Purchase price: $100,000 // +$5,000 for conventional mortgage closing(An identical duplex on the same street recently sold for $123,000)Initial renovations: $5,000Rent:$500 x 8 = $4,000/monthIncome - Coin Laundry:$200/monthTotal income:$4,200Monthly Expense Breakdown:Debt service: $800 (P/I/T/I)Management: $400Repairs: $400Capex savings: $400Gas: $150Electric: $150Water: $150Internet/Cable: $150Vacancy: $750 (planning on 1-2 rooms empty a month)Total monthly expense:TOTAL: $3,350Cash flow:TOTAL: $8,500QUESTIONS:1) Do these numbers seem conservative?

Right now I'm all about the learning, and hopefully making a little extra coin in the process.