Thus that higher return could more than be offset by the increased risk to become a wash. 

I help an out of state investor and one of the best things he did was he actually came out for a weekend and we spent two days together just driving around and getting to know the area I work in and getting to know each other.

I have been looking for a solution for laundry in my 4 unit and I found this Shine pay bluetooth hardware/phone app that will let tenants scan a qr code to pay for wash or dry cycles in regular residential machines.

This is just what we need - washed up D-list "celebrities" getting into the guru game. 

Real estate isn't a quick way to get rich, and it will wash you out if you go into it thinking everything follows a specific step-by-step process (as it does in engineering).P.S.

The rent less expenses less interest is a wash.

Louis to Austin a few years ago, we found that between the higher property taxes but no state income tax anymore, it was about a wash.

Save up ; wash ; rinse ; and repeat.

Was he able to see that I had a free and clear house?

My main reason for wanting to know is , that this $500 in rent $ , will basically pay the house note for me ( of $525 ) , and I will need to show on my taxes that this is the case , as I don't want to effect my DTI negatively by having a now new $525 monthly bill, while my Income from my work will stay the same in 2016 .If I can show that I am receiving this $500 in rent,, it will basically be a wash, and won't effect my DTI , and will allow me to qualify (Income wise ) in the purchase of an Investment property come the end of 2016All comments and input is much appreciated - Thanks