Which sounds great on paper but they never moved in so he ran himself into the ground trying to pay the extra mortgage.

I make sure my extra costs of ownership are built into my monthly rentals, that way I am not out of pocket every month.

I work a full time job and earn about 70k a year.

We could get an extra $1k monthly without blinking, and there are 3 other ways to add solid income on the property after the 1k (boat storage is super desirable, coin op laundry as tenants drive 15 minutes out of town for laundry currently, small RV park or storage).

Extra person means eating up utility costs for shares utility and rent space for the landlord.

Ideally I'd find a 2bed/2bath where I could reorganize the floor plan to create an extra bedroom. 

Earning $10-$12/h would qualify you for about $600 in rental property..

If it’s rent ready don’t go looking for extra expenses, unless you want to increase rent range.  

From my experience, the extra effort to oversee one person pays a lot.

For instance, my first challenge was to earn enough in the entertainment business each month to pay rent.