So the people who just bought expensive properties panicked and lowered their prices and they are competing with people that have owned their properties for years and have higher profit margins.

Reason for mentioning single story 4plex is to have the ability for tenants to pay for water/utilities vs. it being an extra expense I accrue.

On the other hand, it can be more of a hassle and expense if they don't. 

I like the potential return the pro-forma shows, but I've been burned a couple of times already with expensive turnover, tenants leaving a mess and having to pay thousands $ to remove the junk and prep the unit for new tenants.

I found it better to buy nice furniture, and try to find deals or less expensive decorations and such to try to equal it out and make my budget work.

Will a new vent out the side wall be needed for venting add another $200.00 or so.Tankless: Very expensive but worth it in your own home.

I hope Mario can mitigage his losses by selling the property quickly to stop the bleeding, or re-tenant and refinance to less expensive debt but this serves as a case study on the perils of investing in lower tier neighborhoods.The amount of people on the internet and social media selling the false narrative of how easy it is to create wealth through investing in real estate, specifically these lower tier neighborhoods is upsetting. 

I typically export the monthly metrics from my PMS, then use a excel work sheet to break down gross, fees, expenses for owners on their end of month reports. 

If I do end up purchasing a duplex for 299k, I would be living in one for about a year and rent out the other at 1300/month, In which I would still be paying out of pocket for the mortgage (est. 2122/month as per zillow) not including the other expense.

(You will need to declare the income you receive but can also write off any expenses and depreciation like normal.)What kind of tax benefits would we get as rental property owners.