I wish you all the best in your real estate journey and in life!

You may have to tighten your belt in some other areas of your life but soon you will quit burning $300 every month.

Im literally forced to use those funds for real estate or some other investments and it always tax free for life.

I love what I do - it's truly my calling in life.

@AliBoone I liked your article, you were very straight forward with the idea that people do it to sound cool, I think for the average starting investor, thats the primary reason.I've been in media sales and sales management my entire life, when you have a new sales person, they normally fall into or close to one of two catagories.1.

The definition of Other non-interest income is:All non interest income of the bank not required to be reported elsewhere, including (but exclusive to):1.Income and fees from the rental of safe deposit boxes;2.Income and fees from the sale of checks, money orders, cashiers' checks, and travelers' checks; 3.Income and fees from the use of the bank's ATMs;4.Income from performing data processing services for others;5.Earnings on or other increases in the value of the cash surrender value of bank-owned life insurance policies;6.Rent and other income from Real Estate Owned.Alas, using the Statistics on Depository Institutions Report page doesn't provide granularity to see just the Rent and other income from Real Estate Owned.

Check out Podcast 37 with Aaron Mazarillo - http://www.biggerpockets.com/renewsblog/2013/09/26/lifestyle-investing-podcast-aaron-mazzrillo/He touches on some topics about dealing with tenants without losing your mind.

In multi's plumbing is almost always 50% + clogged and furnaces are typically past their useful life.

I am about to enter another phase in my life.

So your $800 would over the life of the rental be closer to $400, $480 if you will be self managing (40% not 50%).Back of the envelope analysis shows you making a net operating income of $5760 for the year if you self manage, a 13.7% ROI if you spent your $35k doing repairs.Learning these quick guidelines for analysis is a good idea to qualify or disqualify a potential property.