He chose the most expensive way to get his license and parlayed it into a minimum wage job until he was a journeyman electrician.Tinian took some time to figure out his path, but is now on the way to financial independence, living the life he wants on the terms he chooses.

But more bedrooms give a lot more flexibility.I don't know what the market is, but I'd wager a 5/2 is almost always going to have more value than a 4/3.But again, that's just my opinion.

Just the costs of setting up a room, bringing the plumbing, gas, electric (I believe commercial machines run on 250 volts, which likely isn't wired in yet), having someone on-call to fix them whenever they break, might require too much capital.But:I'd wager I'm not telling you anything you didn't already know!

While using tax benefits of the loss, yes, I would still save some money compared to renting / buying, but that seems like a dangerous wager to me given that the depreciation taxes will be recouped by the feds if I decide to sell and THAT could end up costing me way more than I ever actually made on the property.

When all is said and done I'd wager that employing this strategy would net even less than just buying a multi-unit to start with. 

They seem to be able to make their desired profit.They are wagering on market/rent appreciation.They see a hard to identify value add. 

I think those closing costs--at least in a situation like this--is a fool's wager. 

Second piece of advise parlays off of the first. 

I would take that $60k you want to use on a condo and parlay that with other investors and go after a bigger deal than just 1 condo.

I have had deals that I have spent 100’s of hours in and essentially not make a penny because I gave my partner the returnsLook at it another way - i would wager the “average” investor targets acquisitions around $20,000.