Not trying to be negative but just make sure you don't put every cent you have into when you buy the property.

Than the auto expenses to get to and from places, signage for locations.

@Justin SkilesJust a question, but if you have the funds to buy and renovate, why do you need a partner?

You can buy an almost new or brand new single family home here in Arizona for $250-300k, combine taxes and insurance of under $2k per year, rent for $1500-1800, will break even on cash flow with 25-30% down because there is no maintenance or cap ex since it's new (you will have these eventually but rents will increase by the time that happens).

Hey Everyone,I just graduated college with no debt so I want to buy my first property and House Hack with college students, I found a property currently selling for $175,000 dollars, but I think It can be negotiated to a lower purchase price since it is a little outdated and the other houses in that same street have sold for less money, although it is outdated it could be rented for $550 dollars a month + utilities  and since it is a 4 bed, 2 baths; renting out the other 3 bedrooms while I live in one of them would help me break even with the house's monthly expenses.

If you are looking to stay in the real estate game, leverage your equity and buy more real estate.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Hilliard.

The only disadvantage is that you would pay the HELOC payment to buy time to see what happens. 

I'm a buy and hold investor with 2 rental properties in Warren Ohio.

I hear many recommend to 'consider' LLC after buying more than one properties, not the first and only property.Isn't there a yearly cost to maintain LLC?