I reside in California and am 47 years of age.Over the course of the year 2020, I purchased 3 separate single family homes for rental purposes in Alabama as investments.House #1 was purchased for $121,000 and is now valued at $168,000 with approximately $90,000 in equity. 30 year loan of about $610.00 a month.House #2 was purchased for $150,000 and is now valued at $227,000 with approximately $118,000 in equity. 30 year loan of about $795.00 a month.House #3 was purchased for $115,000 and is now valued at $160,000 with approximately $73,000 in equity. 30 year loan of about $583.00 a month.All three are rented out with long term tenants and I profit about $1400.00 a month across all three properties.My long term plan is to acquire additional properties for investment purposes.

With that, my goal is to acquire *at least* two additional units in 2022 - whether it SFR or ideally a duplex or triplex even.

I am just getting started on my journey as well though I haven't acquired my first property yet but looking forward to closing that first deal this year.

You only pay interest only so payments are low, giving you time to find a renter/finish your rehab/acquire financing to pay it back.

I have a tip for the managing side of things once you acquire the property. 

I intend to hold the majority of the assets I acquire long term but emptying the coffer for $300/month will take years to get into a second deal with a partner/investor.

But once you find one, it is easy to get the money to acquire it.  

I will soon close on my second investment property, both of which I am acquiring under my own name using residential loans.

This deal aligned with my goals of acquiring either value add or high COC return turnkey properties.

I would clear out the house and cover mold remediation beforehand.