$2300-2400/unit is very strong rental income if they are 2 bedroom units so you would have to make sure your units are competing with the newer luxury 2 bed rentals on the near NW side of Chicago that are going for $2500-3000/mo that come with parking and pool :)   I like using the site/app called HomeSnap for mapping out rental comps. 

Purchase price: $142,000 Cash invested: $39,772 Three bedroom and 3 bath townhouse in Moody, AL What made you interested in investing in this type of deal?

Purchase price: $142,000 Cash invested: $39,772 Three bedroom, 3 bath townhouse in Moody, AL What made you interested in investing in this type of deal?

But now that you mention it, the leak is in one of the bedrooms directly next to the bathroom and so that could be it.

Of course, I plan for the majority of my other deals to be value-add opportunity homes with a rehab budget but my main goal is to get started and eliminate my housing cost right now.Location - Love this pocket in North Austin that's close enough to the city but relatively affordable:Rent Assumptions in a 4/3:- Room #1 w/ personal bathroom: $700- Room #2 w/ shared bathroom: $600- Room #3 w/ shared bathroom: $600- Girlfriend sharing master bedroom w/ me: $450Total rent = $2350Deal Analysis on a 280k home:Questions:(1) Although $127/month doesn't seem too great, with the low down payment I'm seeing 9.9% return not to mention my current rent savings if included would mean 62%/year return while I'm living in it.

I currently do not own any real property and I am thinking of buying a single family home to live in myself, while renting a bedroom or two to pay the rent. 

I understand getting permits and complying to minimum requirements that make bedrooms legal.

I then bought my principal property which is a 3 bedroom single family.

More square footage, more bedrooms, more baths, etc. (3BR or more are better than 2.

Purely based on the fact that may be similar to yours, but I just did not need to own, and am comfortable living in a one bedroom apartment as my the more expensive properties are being paid down though my renters.