Some of my homes have picky owners that want to ensure the lawn is always perfect so we hire someone to maintain the lawn and roll the cost into the rent.

I have good equity that I'm looking to roll over. 

@Michael Klinger, it seems like the next logical step is to take the value you’ve appreciated with your multi family properties and roll it into the next multi family deal.

If it was me, I would purchase it with a 203k loan, renovate with the funds in the 203k (although you can't do the reapirs yourself with this loan I believe), use the house as your primary residence and either get roommates or use the extra rooms as Airbnb/VRBO to generate income (might be appealing as lake property) Take a line of credit on the property, being careful not to over leverage yourself, and use the line of credit to either get into flipping/wholesaling or find another cash flowing property and begin the Snowball effect rolling all your profits into REI and working towards financial freedom at a young age. 

Hi BP,I have been going over some Rent Rolls and have seen various things.

If your asking for 1/3 property management should be rolled in.. 

Price: $795,000Community Type: All agesNumber of Lots: 22Current Occupancy: 86% (19 Mobile Homes) 2 vacant lots, one unit in the process of being certified Average MH Lot Rent: (Tenant Owned) $325Average MH Rent: (Rental Units) $768.75Animal Fees: $25 Per Dog: Current revenue from Dog Fees is $300 a month.Size: 4.24 AcresGross Income: $98,400 + $3,600 (Dog Fees) = $102,000Current Monthly Rent Roll: $8,200Market Cap Rate: 7.8%The seller also says there is an additional undeveloped half acre that could be used for additional homes (8) or RV/ boat storage, etc..

For instance for any closing costs that cannot be rolled into the loan (e.g. appraisal), for rehabbing until the first draw, for loan carry costs until the property is stabilized (HMLs are not cheap) and of course reserves for a thousand things that might go pear shaped.Best of luck in your BRRRR empire. 

His tenants look like they fell off a Harley and rolled into a ditch.

Account Closed I would just focus your free time outside of school on educating yourself as much as you can in real estate so when you graduate you are ready to rock and roll.