@Luke GrosskreutzThe reason to pay-off early is to have decent monthly cash flow if unexpected things happen like I lose job or something.

As far as down payment help--gifts from family, partnerships, $7500 first time homebuyer credit, and using seller's security deposit as downpayment hack are all potential outlets.

PM me, I can give you some guidance on keeping costs down, and especially how to avoid unexpected costs during construction.

If you have knob and tube I would assume all outlets are without ground, so if you find a 3 print outlet I would test it and replace with either a GFCI outlet or a two prong outlet.

I bought this house when i was 23, and the first night i owned it, i sat down in the hallway and cried because I thought I made the biggest mistake of my life. 3/1 ARM, A/C venting from wall outlets, terrible kitchen, etc.Today, this is one of my best performing properties in Oklahoma and has appreciated in value by $40k.

For the pipes that have to remain under the crawlspace I wrapped in heat tape and installed a switch that can turn that outlet off from inside the house. 

My one shred of advice is to know your criteria, what you can get in rent, and then plan for the unexpected.

Boston is a hard place to do flips because contractors hate coming in to the city and the city's permitting and inspections process is nightmarish, but if you're experienced and can handle unexpected delays it can be profitable. 

The reasoning behind this: water usage is pretty much going to be an average amount per person, regardless of unit size, whereas with electricity, a larger unit typically uses more electricity: more outlets, gadgets, lighting, heat/air.

We live well below our means, but only have around $1,000 in savings currently since we can cover unexpected expenses with our extra funds each month.I don’t want to wait around to purchase our first place until the debt is paid off.