For a typical duplex or triplex, insurance can range from $1,500 to $3,000 annually, with flood insurance adding $600 to $2,000+.I’d suggest starting with a thorough market analysis to get a better understanding of the neighborhoods you're interested in.

With starting a business it will often be 6-12 months before it is consistent especially starting completely fresh.

But as someone trying to get their first deal, I am not hoping to get a great deal but just an okay deal, which means a cap rate around 6-7% with at least neutral cash flow to start off.

(The arrangement was that they pay me for electricity because they share electric with other unit.) and they started to complain about roof leak which caused them hardship.

We'd like to purchase another property but are not sure how to capture some of the equity we have in the current property to start making offers.

Recently, I’ve started adding a serving tray with items to help my guests feel more comfortable during their stay, including a QR code to an online welcome packet.

Once you have that you can go to any bank and open a bank account in the name of ABC Management.Your plan is exactly what I did when starting as I too was looking to avoid an LLC right off the bat.

After you have that initial call with our team, drop me a message so we can connect directly to make sure you have a clear vision on what the next steps are to accomplish your goals.Regardless of how you ultimately decide to get started in REI, the first investment property is so essential to get under your belt mentally & emotionally. 

My main goal is to get this house rented so I can start shopping for my first duplex...

The other option, however, is that I can live more or less for free for the rest of the year between a few family members and friends and save that bit of extra cash towards the purchase.The extra cash could either help me jump on a deal sooner or it could be a buffer/money for potential renovation when I move in.