So anyway the new home is everything we always wanted and a lot more like bigger mortgage, more taxes, bigger utility bills, a lot more upkeep cost, bigger lifestyle and on it goes.

@Marty SummersYou might want to talk with your tax advisor about the possibility of utilizing substantially equal periodic payments when you retire early.

The fex things to know is utility metering, yard seperation, and possibly parking.

This is based not only on a mortgage’s closing costs but factors like property taxes and utilities paid in to date by the seller.At the closing, or settlement, table, the buyer (and seller) sign all closing documents, including the HUD-1 (see a sample HUD-1 here), and the final loan documents.The buyer pays the remaining funds in their downpayment to an attorney or a representative of the title company (who is present at closing) via cashier’s check.The representative from the title company or your attorney will then record the transaction and deed with the appropriate municipality.The buyer receives the keys and, unless indicated differently in the contract, officially takes possession of the property.

I think they pay for the utilities but I don’t have the numbers yet.  

I just looked at them and said DUDE this no work.. these assets are not sustainable for anyone but a local mom and pop who is in the asset what your paying for it.. not the inflated value your putting on them

@Sean HarrisonIf you're self-employed, you might be eligible for a Solo 401k, which offers many benefits over a self-directed IRA: Compared to an IRA, Solo 401k contribution limits are roughly ten times higher.There is no custodial requirement for the 401k.You don't need the additional expense and administration of an LLC to have checkbook control.There is a built in-Roth component whereas IRAs are either traditional or Roth, not both.A spouse can also participate in the same Solo 401k plan.The Solo 401k has additional tax benefits over an IRA when investing into real estate using leverage.The penalties for prohibited transactions are less severe, though it's best not to utilize this benefit :)I'd recommend you reach out to a few providers who regularly post here on BP to get a better understanding of your options.

If your place can rent for $1000 and you pay some of the utilities which are $50 a month, charge $1050. 

Here's the per month numbers I'm looking at with an FHA Loan for 30 years & 3.5% down payment at 4.85% interest:Expenses:Taxes: $391.67Homeowners Insurance: $66.67PMI: $150Vacancy (5%): $120Repairs (5%): $120CapEx (8%): $192Property Management (10%): $240Mortgage: $1,219(Tenants would pay for utilities)And... like, this isn't even accounting for Lawn care or Snow removal...Total Expenses: 2,499.33NOI = $2,400 - $1,280.33 = $1,119.67Cap Rate = $1,119.67 / $210,000 = 0.533%Also, for the 1%, 2%, or 3% rule this comes in at 1.143% = $2,400 / $210,000So, this is being generous, really. $210k is on the lower side and I'm assuming I'll take care of the lawn/snow.I'm most confused at how this can really change in any one direction to make it meet the 8% cap rate or the 2% or 3% rule... like the only way I can see it meeting those is by jacking up rent or getting the house for free by a family member.

GeoffCosts Due at Closing Points: 3% of loan (one time) [only financed at 70% of ARV]Origination Fees: $1,020 ($400 document processing + general administrative costs, $575 legal fees - preparation and review of all documents, $30 application fee (charged at closing), $15 flood certification)Appraisal Fee: $400 - $475 (paid directly to state licensed appraiser)Insurance: ARV x .45% -- (paid for 6 months in advance before you close; can choose any insurance company as long as it meets minimum requirements HML has + lists HML as mortgagee on policy)Buying Closing Costs: 1% of purchase price (title insurance + escrow fees)Outside Costs (Holding) 4 Month Flip (120 days): 2 months of construction, 1 month on market, 1 month in escrow/title; plan for 6 months Monthly payments: 1% of loan Utilities: $230/month (varies; $125 electricity, $60 water, $45 gas)Property Tax: $3,000/12 months x number of monthsRealtor fees: 4% of ARV (multiple realtors that will list for 1%)Selling Closing Costs: 1.5% of ARV---------------------------------------------------------------------------------------------Example of House:Buy at $120kRehab at $50kARV at $230kCosts Due at Closing Points: 3% of loan; financed at 70% of ARV ($230,000 x 70% = $161,000 loan) $161,000 x 3% = $4,830Origination Fees: $1,020Appraisal Fee: $475Insurance: ARV x .45% $230,000 x .45% = $1,030Buying Closing Costs: 1% of purchase price $120,000 x 1% = $1,200TOTAL CLOSING COSTS: $8,555------------Outside Costs (Holding) Monthly payments: 1% of loan $161,000 x 1% = $1,610 x 6 months = $9,660Utilities: $230 per month $230 x 6 months = $1,380Property Tax: $3,000/12 months x number of months $3,000/12 = $250 x 6 months = $1,500Realtor fees: 4% of ARV $230,000 x 4% = $9,200 Selling Closing Costs: 1.5% of ARV $230,000 x 1.5% = $3,450TOTAL HOLDING COSTS: $25,190-------------Out of Pocket Portion for Rehab: $9,000TOTAL OUT OF POCKET COSTS: $30,095TOTAL OUT COST INCLUDING REALTOR FEES AND SELLING CLOSING COST: $42,745Calculations-------------------------------------------------------------Buy at $120,000 + $33,745 (costs) + $50,000 (rehab) = $203,745Sell at $230,000 - $203,745 (costs + rehab) = $26,255 (PROFIT)Cash on Cash $26,255 (Profit) / 30,095 (Total Cash Invested) = 87 %Return on Investment $26,255 (Profit) / $203,745 (Total Spent including all cost) = 12.8%