So while it may cash flow more in the short term, if you are turning over tenants constantly that costs.

Assuming only a few percent increase in rents, PITI + HOA remaining the same (any increase in fees will be passed on to tenants, as we are now a little below market rent and are becoming even more so as our units are upgraded), lost rent staying constant, and maintenance & repairs at $1000/mo, our cash flow nevertheless jumps to $3500/mo.

Just remember a couple things- 1. markets are constantly shifting.

I am constantly browsing the MLS for potential deals.

I do some Joint Ventures some Flippers as well.

Of course like you, I constantly have the talk with my parents about how I don't don't want to be in debt and how im graduating with a degree that Im not even going to practice.

Let's keep in touch for any possible joint ventures in the near future.

Peeing, drinking beer, constantly late... why would you want to keep him??

If it doesn't, then the person goes on hold or gets rejected, and this is communicated to them: "Hey, your application looked good but there was an open bankruptcy on your credit report, or you failed to mention your time in the joint for murder".

@Frank Leone is there any chance your friend could joint venture with you and be a part of the entire process?