Purchase price: $153,000 Cash invested: $40,000 Recently updated duplex with tenants in place.

AND, why it's called INVESTING and NOT Pay-Check-Purchasing.

@Steven Catudal congrats on making your first purchase!

BP Family - I am currently under contract to purchase a long term rental home and will be closing on July 12th.

@Mike Liu there's always a tradeoff between risk & reward.If you want higher cashflow, you'll need to get into riskier investments.STRs are riskier than LTR due to: saturation, changing local government regulations, more intense time required, etc..Regarding LTR higher cashflow:If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

This could expand my purchasing power immensely.

Common, I know, but the question that I can’t find an answer to is whether I can purchase a $100,000, 0.5 Acre lot and build a $344,000 ($86,000 per unit) on the lot as my first homebuyer’s FHA loan. 

Activity DescriptionTenant recruitmentTenant screeningNegotiating and executing leasesOverseeing repairs and maintenanceCommunications with tenants and vendorsTravel timeResearch for potential rental real estate (pub 925)Acquiring rental real estate (pub 925)Paperwork/bookkeeping/bankingResearch and purchase of materialsRent collectionEvictionOn-site cleaningBill paymentOther:Time SpentDate

I purchased a new build and an older home 3 years ago. 

We just helped one of our investor clients purchase a multi-family primary in the Boston area.