I’ve been struggling to convince my fiancé to start off with buying our first home and closing off the master bedroom from the house and rent that out to help with the mortgage since I’ve been very stressed financially as I’m the only one working and I’m supporting us and our 2 small children.

And David can tell you about his journey, he had some bumps in the road and mastered them very well!

Replace front exterior doorRemove all paneling and texture walls Remove popcorn ceilingAdd tub to master bathOpen up the living,dining,and kitchen Paint, trim, and flooring throughout Replace all fixtures throughoutPictures will be coming soon!

Let your tenants know that rents in the area for similar properties are higher than what you are charging, and based on the expenses you incur to keep the property in great shape, you need to increase the rent to market levels.Of course, also throw in how great they are as tenants, how much you appreciate them, and any concessions you're willing to make in order to retain them (for example, if they've been there for a year, offer to paint a room for them or put a nice fan in the master bedroom; if they've been there for several years, perhaps offer to replace the carpeting in a couple rooms; etc).Remember, it's MUCH cheaper to keep existing tenants -- even if you're getting a bit below market rents or have to provide incentives -- than it is to replace tenants.

@Emily Beck I have a Bachelors in Math and a Masters in Business Administration.

There are no warranties either way, but if it was me, I'd use a Master Electrician, Master Plumber, Roofing Expert, etc."

Unfortunately the garage caught on fire and caught 1/4 of the house which turned out to be master bedroom and kitchen.

I'll be house hacking it, so the master and one other BR with shared bath will be for rent.

It wasn't until I mastered accountability and mindset that I was able to be successful, I shifted to a mindset of How do I get this done, and established relationships with people to hold e accountable until I was able to hold myself accountable and action followed.

With the right syndicator, you could be looking a 1.8 to 2 fold multiplier, so close to 400,000 to 600,000 in three to four years -  all that as a passive investor while watching and learning from the Master.