Even if you rent at a break even or slight loss, if you could have 3 years of rental income offsetting your mortgage while realizing 3-6% appreciation, could be worth it, especially if you think appreciating for this area will exceed national averages.

Quote from @Jonathan Small: @Dan Maciejewski I agree that property managers can make or break a deal. 

Take a bit of that money and invest in learning - go to meetups and the many events that take place related to investing in the city - some for free and some paid.

You got a screaming bargain that was so good that no one else wanted it from the provider side, even for free.

is there a way for me to create an online STR guestbook for free? 

If you have any loan questions feel free to reach out. 

I have a city rowhouse with a 20' sidewalk and 5' wide steps with 9 treads and two 7'x7' landings. It's a 4 family, I just don't want that kind of transactional relationship with any tenants. At another property with ...

Principal Paydown: $2,441 Total Gain: $58,317 ROI: 360.32% (on $16,185 upfront investment: 3.5% down payment of $8,715 + 3% closing costs of $7,470).Year 2 Analysis Cash Flow: -$752 Home Appreciation: $6,120 Principal Paydown: $2,617 Total Gain: $7,985 ROI: 49.34%.Year 3 Analysis Cash Flow: -$375 Home Appreciation: $6,242 Principal Paydown: $2,806 Total Gain: $8,674 ROI: 53.59%.Year 4 Analysis Cash Flow: $9 Home Appreciation: $6,367 Principal Paydown: $3,009 Total Gain: $9,386 ROI: 57.99%.Based on these numbers, you’d have negative cash flow for the first three years and only break even in Year 4, assuming a 2.5% annual rent increase.Adjusted Scenario see second picture: Landlord Covers Gas and WaterIn the second scenario, I assumed the landlord would pay for gas and water at $300/month while maintaining the same 2% home appreciation rate.

While very lucrative - if you don't have enough reserves, it can really break the bank. 

Purchased a little too high at the buy (I knew it at the time too), does a little better than breaking even on cashflow, and took too long to rehab.