You should consider that the moment you start a business you will be subject to self employment tax which is something like another 15.6%Are you assuming that owning a rental property automatically implies you will be cash flowing positively because that is something you have to make sure of and there is certainly no guarantee about cash flowing positively.

When you use your money (cash flow and personal income) to pay down any debt that the tenant is paying (thanks to positive CF), you are adding to what the property costs YOU. 

I will keep you in mind if our position changes. 

I've heard there is an appraiser in my area that will possibly only use the income approach with this but I haven't used him before (this being my second deal) so I'm not positive.

@John Woodrich we do have a positive migration

@HAILEY ERSKINE I think in your position, you may be better off to do a virtual wholesaling.

They have not maintained the property to your standards, do you trust they will have it remedied to your standards?

If I refinance the siding and windows into the house I dont think the house will be positive cash flow anymore.

We’re thinking about converting everything into split unit hvac since tenant pays electricity and boiler is getting old and costs a lot to maintain and run heat through four stories.

Positive cash flow What made you interested in investing in this type of deal?