If you really want to buy this occupied duplex, think about rich people in your life who may be much cheaper than hard money.

,I'd like to start off by saying I am very impressed at the varying levels of expertise represented on this site and that I only wished I would have learned of all of these opportunities earlier.A little background on myself, I 32 years old, a Texas Native (Houston Area) and for most of my adult life I have been employed (comfortably) in the oil and gas industry.

I, personally, would reserve $100/mo. for capex in your situation.One thing most folks miss in this stuff is the waste line to the street unless its brand new your going to replace it for 3 to 5k as well over the life.. along with plumbing fixtures etc and maybe even a replumb under the house along with dry rot etc..  

My father was their attorney for several years, and ultimately took his life over their illegal and unethical business practices.

Furniture and renovation financed by HELOC, $27,000 @ 4.5% over 5 years = $500/moRent - $3,000/moPITI + PMI - $1350/moHELOC loan - $500/moUtilities - $350/moMaintenance + CapEx - $400/mo (Roof and windows are new, exterior is brick, HVAC is all-new)Cash flow - $400/mo (18% COC) This return does not include equity capture of $260/mo from mortgage paydown (boosts return to 30%), appreciation (anybody's guess, but at least the rate of inflation), or the biggest of all, rent avoidance for our daughter of at least $550/mo (boosts return w/o appreciation to 56% annually).Besides the great returns, another reason for buying the house is the example of living in a money-making house to get our daughter comfortable with house hacking. 

But the reality is that even if I had enough money to live for the rest of my life, this is the thing I do that truly makes me happy.

While I would love to buy my first STR in the Pigeon Forge area it is too rich for my blood at this point in my life.

I highly appreciate these recommended books because I honestly do believe the knowledge comes first and THEN apply that knowledge in real-life situations.

This is just a normal transition in life. 

I'm 25 and live in the Washington DC metro area, and work in financial services.I have done really well investing in the markets and have been trying to save as much as i can (while still enjoying life to the fullest), and have created a nice little nest egg to start my journey in real estate investing.The reason i am starting this thread, is because after living and renting in the DC metro area for 3 years here, i just do not believe the market here is attractive for buying house hacking or renting properties.