I ran the numbers a few different ways yesterday and either way she'd lose more than she'd gain.

I ran the numbers after a friend of mine wholesaled it to me, and the house hacking flip strategy really made sense for this house.

I ran the numbers after a friend of mine wholesaled it to me, and the house hacking flip strategy really made sense for this house.

I moved out to little rhody this past year and taking the plunge on making my money work for me.I am anticipating on going to the investment group here this Thursday but other than that I'm looking to connect with individuals who can help with the process.

I ran some numbers on a duplex with a lender and this is what it looks like:Property Price: $306,0003.5% Down FHA loan @4%Unit A Rent: $1,050 2 bedroom (We would live here)Unit B Rent: $1,350 3 bedroomTotal Monthly Payments ~$2,125 Includes: Principal & Interest, FHA mortgage insurance, homeowners insurance (estimated) and actual property taxNoted that tax and insurance can rise over timeLiving in the house, our monthly payments would be ~$775 ($2,125 - $1,350).Once we moved out, and are able to fill unit A with a new tenant, theoretically we would be cash flowing $275 ( - $2,125 + $1,350 + $1,050).

I’ve had problems I ran into when hiring out contractors who would bid me ridiculous prices for drywall work haha but that’s when experience comes in handy.

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

I was planning on going with traditional financing but due to some rehab issues that need to get fixed, I can't find a company that will insure on it until the issues get taken care of. 

It was the opinion of my contractor that the problem had been ongoing for some time and the previous owners either knew or should have known and did nothing. 

I ran the numbers with the current Landlords financial summary provided to me by the Real Estate agent.