Hey, I got 30+ comments and 10 or so direct messages of interest in my first apartment, an owner occupied duplex.

The rent will be a direct result of how much we update the property.

Property / Finance details here with comments below.Address: 2626 NE Multnomah St, Portland, OR 97232Property Notes: large basement but ceiling too low, could be zoned into duplex, gutters not attached, evidence of plumbing issues, backs directly to freeway, noise is very present, tenants don't mind noise.  1 squatterPurchase price 337kLiens aka Cash needed - 66kRepairs needed est - 10kRent estimated - $2,300/monthMy number crunch viewable at this linkhttps://docs.google.com/spreadsheets/d/1FJlTFIbInZ...I love the area for appreciation.

Have a great Labor Day!!!

@Anthony Dominguez I have never met a contractor or subcontractor that has ever given an owner that type of list.How it works is you receive a bid for labor and materials, and that is what he charges you.

I think I have finally found the direction I want to focus on, which is the wonderful art of wholesaling!

Maybe a trust that the rent could be paid into, where it would not be viewed as direct income for the lady.

As thorough as you've been, I'd go with your gut; especially since it seems you know you'll make it work regardless of which direction you choose.

I am the investor who will always be there.send me a message with your contact information and we'll talk and get you going.Example: A new student called me last week to wholesale a deal that I believed she could do making more money than 5K and tomorrow she's now going to do it herself with no out of pocket money and 3K in her pocket with a CF of $450.00/monthAll from her calling me a week ago.Send me a quick direct message with your contact info and you have a mentor.

I’ve got the age old question of whether we should sell our townhome or keep it and make it our first rental.This is my first post on BiggerPockets so please let me know if I have left out any information that may be helpful in the analysis.Single Family TownhomeBuilt: 2001Purchase Date: 2008Purchase Price: $270,000Property Tax: $5700/yearHOA: $125/monthWater/Sewer: $1320/year (Must be paid to county by home owner)Insurance: $800/yearMaintenance Costs: $400/year Other planned future costs: Roof (in about 5 years, ~$5000), water heater (in 7 years, ~$1300 including labor), water softener (in 5 years, $500)Current Mortgage (Refinanced in 2012)Term: 15Rate: 3.375%Principal: $140,000Market Value: $230,000 (Upstate NY market with minimal appreciation expected)Rental: $2000/month ($2200 possible but I want to be conservative)I was also considering refinancing to a 30 year mortgage to help with cash flow but I’m not sure if it is worth the $4000-5000 in closing costs to refinance.Normally I would not consider this a good rental property because of the low/negative cash flow.