Ideally you would find a duplex and rent out one side and live in the other.

I normally factor and communicate the ARV, my repair estimates and what they include, and the possible rent.

i bought and have been vacant since November 30th. trying to find a tenant in the winter, 20 miles from home, and taking 9 days vacation in Austria, were not the ideal setup.

Also in five years if you factor in say $50 per year rent increase that's potentially an additional $250 per unit per month rent.

By that time you should have some good equity built up.You need to figure out your rent income for all 3 properties and use these 4 major monthly expense factors:1. mortage per month2. hm owners ins. per month3. property taxes per month4. property management fee per monthI know that if you can collect at least $300 a month from each unit, you should be positive or break even with no money down, paying a manager, and you do not have abnormally high property taxes (depends on the county and state).

Ideally, I would like to have an LLC for each property I purchase so as not to put an property at risk due to the others.Thanks again!

I'm shopping rentals with this factor, but I already have one that has become a nightmare, and I'm in the process of evicting to sell, because it is just not worthwhile.

That's where I'm at - trying to figure out how to fake it 'til I make it - The "It" factor or the confidence factor is so crucial when you're just starting out which is why having a mentor can help tremendously.

You'll find tons of great information that will help you in your decision making.Make sure you consider all factors before buning ANY property!

You will also need to factor in closing costs when buying and selling.