I guess another question to add on to the thread would be ----- What percent is your PTI+bills for your primary residence compared to your monthly net?

Another way is to ask the seller for an option to buy his property, let him know that you want a 30 day option and he can still market it with whoever he wishes,lets say he wants 55k for his property, if you can find a buyer before he does you can then add on say, 3k and get paid from the buyer.

@Ryan TerwilligerI used almost none of the add-ons, if I recall correctly.Any question that they asked me, I quick googled it to see if it was what I had in mind ...

Add on some liabilty insurance to your homeowner's policy and an umbrella if you still feel it's needed.What are you envisioning happening on the property that would subject you to more than $300k in liability??

To add on to the advice that was already given there are 3 different types of lenders 1.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

I would get a grading expert, foundation specific inspection ect as an add on to my general.

(you can do it)http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/6) weigh it all out. calculate costs of rent vs. expenses with 3 units rented and living in one unit. then check the cashflow with 4 units rented vs. expenses once you want to move out. then check if you can add on a PM once you move-out to minimize costs. do you break-even for either of these situations?

I would add one more to your formula - forced appreciation.

I will add one more that I did not see mentioned...Floorplan - e.g.