So we installed a window unit in the bedroom so when the weather is not that hot, we shut off the central air, and use our bedroom for eating and sleeping.BTW, I'm told 220 volts is more efficient, which is why for larger units, they're mainly 220 volts.

The tenants of that property didn't seem to take good care of the property, so that kind of questioned the type of tenants we would attract in the area. 

The main idea is to select one niche which seems like you did: invest in residential multi-family (2-4 units) and stick to it until you're fully comfortable in this field.

@Stephanie McKay - this will depend heavily on your situation.In general- an LLC will not have a tax impact... it is mainly an asset protection strategy. 

I didn't quit my job straight away, mainly because i couldn't afford to, so I started RE and bit by bit closed deals until I'd saved up a years salary and then jumped in full-time. 

So you fix a place up to a reasonable level (say $2500 reno), but you don't attract the best tenant at the highest rate.

Our neighbor's main duplex rents for even more - $600-$800 per night. 

Brandon Turner, one of the main contributors to this website, always talks about how his first property was a duplex that he lived in, and I personally think that's a great way to introduce oneself to real estate. 

However, one thing I would add is that, when vetting a Sponsor/deal, their acknowledgement and analysis of a "bad" situation is certainly welcome.For example, a sensitivity analysis that supports say a 2-3% return even if occupancy and rents don't come anywhere near projections, is still relatively attractive given potential returns on other investment vehicles.If a Sponsor you're considering is all rainbows and sunshine, I would take that as a red flag and move on.

Any private lenders in Maine?