Now with time and rent growth, what could be a negative cash flow property might very well become a cash flow king, but that takes patience.Another way to increase cash flow would be renting out rooms in the unit you live in, either Airbnb or longer term.And think of it this way too... if you house hack 3 properties, and then 1031 exchange them into larger properties you'll likely achieve finanial independence within 6-10 years.... just by house hacking.Hit me up if you want to chat about different strategies to get started in the area and then how to responsibly grow your portfolio.

He was partially correct , there was no separate hot water heater , the boiler had a heat exchanger for hot water . 

utm_source=search&utm_medium=internal&utm_campaign=booksSimply, bone up on the areas that you need to expand knowledge in such as, Forums, Marketplace, Learn, Network, Analyze and Resources.Feast on the Podcasts, #askbp Podcasts, blogs and webinars Lastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

We took over an investor property recently that had languished for a few years and tripled the net rent in about 90 days.BP is an awesome place to share and exchange ideas...leaving many of the better for the experience.

Most SFH investors must pay down the mortgage and ignore any return on the equity to actually have what they consider cash flow.There cash basically sits dead in the property in exchange for perceived or "forced" positive cash flow.

A daily rental manager needs to provide some sort of reservation service (preferably it includes an online presence), physically inspect and clean the property each day as your renters check in and out, and provide a linen exchange and laundry service for the sheets, towels, etc.  

If you hold RE outside of your plan not only can you get those, you can also sell and defer taxes via 1031 exchange.

I'm new to the forums and wanted to see if anyone had some advice on how to start out with a 1031 exchange.

1031 exchange is a way to defer taxes on profit when you sell property.

They barely exist, and the only reason the big guys are buying is that $ is cheap and the CoC returns are high with cheap leverage.It took me months, and months of looking here for MFH before I gave up and went commercial for my first 8-unit deal, and I did it for precisely the reasons that you outlined.