So in the worst case, I'm living for free.Other variables: It's a 1-acre lot that's zoned for multi-family and has enough leftover space that I could use someday for a triplex or just divide it and sell.New roof in 2019, new hot water heater and HVAC within the last 3 years.The utilities are combined so I'd either have to include it in the rent or work out another solution.I think I can get it at $120,000 with either 15% down on an investor loan or 5% down on a conventional mortgage.Taxes: $950Insurance: $1200I would manage it myself for now.In my various scenarios, I either run $1000 a year for expenses for living in the main house and renting out the MIL suite or up to $3000 a year in expenses for the student rental scenario.

Cold calling is a hot topic right now and I have seen several dozen do extremely well with it. 

I need to add that this tenant is great as well, usually quiet and hasn’t ever been late paying rent.The condo has a full bathroom that  doesn’t have any windows, thus no real way to air it out.A while ago, the tenant noted that mold was starting to show in the ceiling and for me to take care of it. 

Currently; we have 3 properties (One house hack, one long term rental, and one Air BnB) The house hack is breaking even, the long term rental cash flows about 700 per month, and the Airbnb makes about 10k per year. 

As you all know, this area: anything close to DC or close by suburbs are very expensive and tough market for newbies.Since I'm new to the area and to REI; I'm looking to meet up and connect with like-minded friends, agents, contractors and investors to learn more about the area and investment strategies.Right now, I live in Manassas Area and looking to invest in the area closer to DC, Chantilly, Aldie, Gainesville, Haymarket, Fairfax, etc.Any recommendations on hot areas are greatly appreciated.Thank you so much in advance for all your valuable feedbacks.

Hi Lynne,Gunshot alley is no place to raise a family.If you want to move quickly and move up to a nicer lifestyle, there are a lot of LARGE Multi-family apartment complexes in the area.Many will have pools, hot tubs, gyms, dog walking parks, Amazon Delivery boxes, and the freedom from having to cut the grass or maintain the structure, and best of all no property taxes to deal with--all in return for one monthly fee.If this is something you are interested in, go visit a few properties (after dark) and see if they "Feel" safe to you at night.https://www.apartments.com/santa-rosa-ca/Just my 2 cents!  

In any event, practice your presentation, ask the right questions, determine the pressure points, and close the deal.Like in all sales situations, you've got to make your presentation in front of ALL the principals, hit their hot buttons, and be prepared to kiss a lot of frogs.Good Luck!

The Deal1 4 bedrooms 1 full bath (Upstairs)1 1 Bedroom, (In the basement)Current asking price $179,9004 Bedroom rent: $1,2301 Bedroom Rent: $540 ( Ideally Luanne and I would take the 1 bed after we are married)Newer windows, siding, furnace and central air. 4BR unit is super spacious with laundry on the main level and new carpet in bedrooms.

Not sure how old the home is but you definitely want to check the roof, plumbing, central heat and air conditioning (which sometimes can be a deal breaker), and any siding that needs to be repaired on the outside.

This costs about $75 per month, or, if I can get one of the tenants to allow me to set up my "Automation Hub" (I use Smartthings HUB in my setup), I will give the tenant $25 per month towards their bill.There are many ways that Smart Devices can help, not only in the case of smoke detectors.I have motion detectors which turn on and off lights, cameras that record to the Internet, leak detectors that tell me if there are problems with my basement, particularly if one of my equipment like a Hot Water Heater or Hot Water boiler is leaking, etc.In fact, I normally buy properties in transitioning neighborhoods, capturing the appreciation as the neighborhood gets better.The Internet Cameras became very important in this situation for 2 reasons:1) I kept getting sanitation tickets for dirty sidewalks.