We learned now to really carefully look at utilities before buying a property.

Rental income $14,400/year, taxes $2900, Ins $504, utilities $700.BRRRR- cashed out $60,000 and bought the other half last month, $40,000.

Account for utilities.

Purchase price: $44,501 Cash invested: $13,300 Sale price: $129,900 Quick flip, rehab time was 3 weeks, just needed clean out, new flooring on first floor and carpeting through stairs and 2nd floor, Property was built in 95 and has a full basement with French drain and newer utilities.

They utilize the services of an underlying custodian for certain fiduciary services. 

First thing you want to do is get very familiar with their existing agreement (is it month to month, who paid a security deposit, who pays the utilities, etc.).

John it doesn't change the equation. like i said it still doesn't change the fact that you have 180K of dead equity in your primary resident. it's great that you got it for half the price, but you have value in the house that is just sitting there and you can't utilize until you either sell the house or refinance it. 

You really have to take them on a case-by-case basis and determine the pay-back period.As far as PV goes, it's not worth the expense unless you have landlord-paid utilities to offset.

Tenants pay all utilities so expenses are low on these units.

I do not think I would have purchased my first rental, let alone expanded to five, if it wasn't for expanding my knowledge regularly utilizing bigger pockets.