- The property is probably NOT as profitable as you think it is.More reality for you - how are you going to cashflow enough from leveraged rentals to replace your current income?

The house, in the condition it is in, is currently appraising at about 350k.

I'm currently renovating my rear unit and it has the perfect layout to split into 2 units by adding a wall and an additional front door.

. - Current owners have surveys, this is a new subdivision.- Public sewer available.- Current owners purchased many lots and they haven't developed them.

Then over the course of the first year or so, if you could raise the rents by a total of $1k/mo (they are currently $2k, $1k, and $1k), then you might be able to pull out about $60k-$80k in a cash out refi. 

Currently, I am looking at Hemlame for local, I tried to use them for an out-of-state investment property, but the cost with an agent would end up far greater than a full-service property manager.The dream option would combine all accounting, bill pay, rent collection, provide eviction services, and maintenance coordination outside of normal hours.

I currently work with investors building their portfolio with Turn Key investments.

If your rent ends up being comparable to your current mortgage, it might not give you the cash flow flexibility you’re hoping for.

Do you have a current need for that cash flow generated from the tax savings?

Currently, we are in our growing, and we tie the bonus to that.