The numbers didn't work for me on this one so I am still searching.The moral of the story is that it is totally possible to do this real estate thing in a big way. 

@Caleb Heimsoth yes I totally agree with you.

@Jay Hinrichs Totally agree.

., the house is in Lufkin, TX.I have no idea where or what Lufkin is to be totally honest with you.

BrySys sounds interesting and I totally agree with Royce's point there.

If your competitors do and the total rent+RUBS is comparable to what you will be charging then potentially it could work for you, assuming all other things being equal.2.

I purchased this property at $7800 total and have put a few hundred into it since Dec.

You use this $96k to pay off your original loan of $80k and are left with $16k which you can use to acquire another $80k property.So yes, you now have 2 loans (which your rent should cover) but you've increased your total portfolio by $80k for no additional money!

In general the best (most profitable) angle, although the most difficult, is to sell the totality of units as a package... which requires everyone to be on board to sell.

Dave Ramsey is an expert at getting out of debt and you may find it helpful to listen to his podcasts, read his book the Total Money Makeover or watch his debt free screams on YouTube.