Splitting the bill and charging it back to tenants can also create disputes between tenants if one likes to wash their car every weekend but the other has to share the costs. 

Based on the numbers you provided, your cost of capital is higher than your best case cash yield (cap rate).

The barrier is the additional complexity - now you are operating two sets of books, and filing two tax returns, and have more operating agreements, more state registrations, etc, need to manage cash better, need to keep in constant mind that your rents need to be a supportable FMV, which may require getting third party certification on your rents so that in the event of an IRS audit, what you have done is supported.In short...the size of the project, and the taxable income, need to be of enough scope to make all the additional costs and annoyances worth it. 

Purchase price: $235,000 Cash invested: $230,000 Sale price: $595,000 Property was a 3/2.

This might be a workable scenario for me.Lack of experience would not kill this deal for us but it would depend on a few things.Usually the biggest challenge for newer investors is in the amount of equity you have available to infuse into the project.You need to have a cash down payment to secure financing.With 25% Down you would be in a multiple financing offer situation where we're just fighting to get best deal possible and batting off Wholesale Account Execs left and right.

After all, they weren't making them, that's how they go into the situation they're in now.All they care about is 1) how much cash will I give them at closing 2) how much time do they get to move out 3) how much cash will they get when they move out.After I bring their loan current and make 2-3 payments their credit score increases, anywhere from 60-100 points.

Purchase price: $196,000 Cash invested: $8,500 Sale price: $325,000 I bought this home as a new construction home and made it my primary residence for about 1.5 years.

The RTP area, comprising cities like Raleigh, Durham, and Cary, is an attractive option for several reasons:Strong job market and population growth, driven by the tech, research, and education sectors, ensuring consistent rental demand.More affordable home prices compared to Charlotte, allowing for better cash flow from rental income.Areas like Cary, Apex, and parts of Raleigh have newer construction townhomes/condos that fit your criteria.Potential for long-term equity growth, as the region is seeing steady appreciation.Some recommended areas to consider near RTP:Cary (especially newer developments like Amberly)ApexNorth RaleighDurham (for slightly lower prices)Charlotte is also a solid option, though it may be more expensive:Strong financial/banking sector driving job and population growth.Higher home prices but potentially higher rents as well.Newer townhome/condo developments in areas like Ballantyne, University City, and South End.Robust long-term equity growth potential, but higher entry costs.

Your investing plan sounds "boring" but in 15 years of this strategy you will have millions in assets that cash flow you to not need a job, and equity built up for continued growth or expansion. 

It's nice to find a place where people get jacked up about cashing in early retirement funds rather than call you crazy!