Grow your career and income, max the 401k, then consider the real estate to supplement it.

@Nicholas Morgan -  I would do this deal if you have other income to supplement you when things go wrong (which they will).

@Peter Vekselman that's pretty generic, can you be more specific?

closing cost details purchase price of 180k, total loan to have been 240k totals of each group A: origination charge (x % of loan (points) 2623   admin fee 243 $ 243.00   processing fee 995 $ 995.00   supplement org fee 665 $ 665.00   underwriting fee 720 $ 720.00   $ 2,623.00   B: services you can NOT shop for:   203k consultant - initial inspection fee 700 $ 700.00   203k permit 600 $ 600.00   appraisal fee 450 $ 450.00   contractor validation fee 120 $ 120.00   credit report fee 80 $ 80.00   flood cert fee 13 $ 13.00   203k consultant inspection - reno inspection fee 1050 $ 1,050.00   FHA pmi, mip, funding fee = $3,875.74 $ 3,876.00   $ 6,889.00   c: services you can shop for:   title closing fee 1500 $ 1,500.00   title lenders cover premium 1500 $ 1,500.00   title service fee 500 $ 500.00   title update fee 900 $ 900.00   $ 4,400.00   d: total loan costs a+b+c     recording fee for deed $ 50.00   recording fee for mortgage $ 150.00   tax stamp for county deed $ 92.25   tax stamp for state deed $ 276.74   $ 568.99  *** note that each draw of money to pay GC costs something     OTHER 203k Consultant Fee's   Change order preparation ($100 per)   Draw requests ($275 to $350)   Change is scope ($275 to $350)   Mileage charge if over 30 miles ($?.??)  

I'm interested in supplementing my current income, whether it be on a consistent or inconsistent basis.

Installment # 8 Insurance Issues for The Real Estate Investor.LIABILITY - ContinuedThe type of policy ("commercial" or "personal") can affect whether a liability exposure is covered.As an example, the “generic” pollution exclusion found on most personal type contracts is addressed by some commercial policies to consider/cover pollution that emanates from a heating source (i.e. carbon monoxide).This is a greater benefit than you can imagine as your tenants even "alleging" that they got sick or injured can devastate you with defense costs, even if the ruling is in your favor.I have seen alleged injuries and sicknesses from pollutants in other situations and it is not pretty!

County assessments are not market value and the current one is from a valuation date up to 24 months old.All your cap rate calculations are incorrect an inappropriate for a 4plex.2400 rents x 12 ÷ 140,000 = 4.9 GRM which is generically low.  

We could live on the rentals now but I have other business interests to supplement our household.

For instance, I have clients all over the U.S. and our meetings are supplemented with various technological solutions such as Skype, Google Hangouts, and encrypted document sharing platforms.

I would also assume a purchase of some type of specialized mailing list, as a generic campaign might be a complete waste of time.