There should be lots to read on Bigger Pockets (and elsewhere on the interwebs) in terms of a home purchase and the associated tax implications...good luck!

Thank you in advance to the responders and thank you bigger pockets!

Maybe they are too new to the game.  

You made a great start by joining Bigger Pockets.  

@Seth Reichard,Welcome to Bigger Pockets.

Hi I'm Brett Smith, currently new to bigger pockets and new investor in Lubbock Tx.

Greetings BP,I just want to be successful in this RE game.

Hello EVERYONE I'm a new realestate invester and I'm looking for Investment properties in South Jersey to rent out, I'm new to the game and all advice is appreciated thank you 

@Glenn RussoWelcome to bigger pockets.

Taking a shot in the dark before I read any comments, to see where my own head is at regarding investor psychology.With the 1 unit already rented, it looks like your coming out of pocket $1,150/month.Plus $1,400 in SL and Car NoteYou have $20k in free cash that's not currently earning anything, but has the potential to earn $1,300/month or $15,600/year.That would mean your RR on the $20k would be 78% if you do the necessary upgrades to rent the 3rd unit.The $1,300/month also means you'd be living rent free with a cash flow of $150/month.