If it’s hugely expensive, you’re covered.

And  there are other factors at play... like taxes, comfort with leverage, your 'lifestyle', along with a substantial number of other variables inherent in investing that impact our decisions.... all topics covered on countless other threads in BP Nation. 

You’ll cover $20, and you’ll bill her $40.

@Joel Owens covered most of the costs however we can move any structure it just  comes down to any additional costs that would be needed to Ben stabilized. 

At my primary residence my home owners is $1100/year and that covers a much, much higher home value.

If you want an FHA or conventional owner-occupier loan, you'll need more than $10k to cover the minimal 3.5-5% deposit for your next $350k primary.While in theory, 2x Equity Lines Of Credit could be approved, remember that Lenders only give out a percentage of the homes' values, so, you may not have $74k of borrowable equity!

Hard money might be an option to supplement, but the deal needs to cash flow enough to cover the debt service. 

If I was in your shoes I would invest in a covered trailer if you are going to be doing lawn and snow work yourself.

if the rent stays as is, its not a good deal because the mortgage isn't even covered. thanks!

I would raise the Vacancy Reserve to 8.34% to cover one month of rental income.You might want to include exactly what you are not sure of.