After a year, buy another to move into and turn your first into a pure rental.

If you are thinking of getting an investment property here, you will be underwater on cash flow and purely banking on long term appreciation.

It sounds like you made a solid acquisition and were able to learn a lot purely from the process of making this purchase. 

Those are purely the numbers on the lease documents.

Will that be a house hack or pure investment?

I'm a real estate investor and own a bookkeeping & CFO firm that purely serves real estate investors.

We'll be keeping a close eye on rental rates and vacancies, but for now we haven't had issues with either of those even in the cheaper areas like Riverview, Normandy, and Berkeley (we will not buy anything in Castle Point, but that's about the only place we really don't like at any price).Most of these rentals will pay back all equity within 6-8 years (even if not refinanced) and after that it's pure profit for as long as people are going to be around to rent in the area, which will be a long long time because nothing ever seems to change quickly in St.

I don't think anybody disagrees with this principle, either.Bottom line: the only thing to change in regards to the PM payments is the bank account where net proceeds are sent.However, changing ownership to an LLC likely triggers other formalities that are NOT tax-related but are purely legal compliance.

All of my units will have a minimum of one hard wired one and one battery operated one.

The key to Jame's post was that the property would need to be "owner occupied" not a pure investment property to get 3.5% down.