If it's done right and the layout makes sense you recover your money on the added value of the house, not in the monthly additional rent.

I'd like to check into using a property management company for my first property, then I'll add it to my second.

Looking to take the next steps in finding, funding, rehabbing, and flip or holding additional properties. 

Additionally, getting in with a local broker helps as they can shop around for you.Umbrella insurance is pretty cheap to add on in my experience, so I think it’s worth it.

AKA it is a way to access some of the money you've put into your home while also making sure you can still afford your mortgage payments and other debts.You will need a renter in place as rental income is apart of the calculations when underwriting these loans in addition to the other factors you mentioned like monthly housing expenses (PITIA: principle, interest, taxes, insurance, assocaited fees ARV, debt outstanding.

Additionally, determine the anticipated after-repair value (ARV) of the property.

Thank you for the insight.

Insights/advice or thoughts? 

Additionally, working with a local real estate agent can provide valuable insights and assistance in your search for the perfect neighborhood in Birmingham.

I would love to hear feedback from others that may have been in this situation or can just offer additional advice.Thank you so much!