@Jesse Simmons  I did a similar deal as this in the past. 

It goes to your preference, of course, but whichever can produce the greatest ROI should be considered.There are many markets in Michigan, for example, where it is cheaper to buy an existing house and fix it up than it is to build new.That may not be the case where you are at or through the construction suppliers and contractors you may have access to.To Your Success!

Hi @Elizabeth R Bates, welcome to the BP Forum!

The devil is in the details.   

You could put most of your funds in the stock market and access them when needed for a HML.

Like any tool, you have to know how to use it correctly or you could get, "injured".We use it to quickly sift through multiple options - and that's about it.BP has a Rental Calculator that includeds everything you are asking about: mortgage P&I, property taqxes, home insurance and percentage for maintenance & vacancy.It also includes Cap-Ex percentage, but in our experience it's a waste of time to worry about this.

This goes the same for calculating rents in the area, I what to know the real data.. i.e. from the MLS, or insurance from the broker/insurance agent to make the right decision.

Quote from @Scott Hertzog: Hey everyone,I am coming into this game a little later in life.

This is not an exact science.

Good morning.My partner and I are buying a single family in FL.