If you're looking to rent out 1 unit & live in the other, you will take different things into consideration compared to renting both units out for profit.If you're renting both units out for profit, make sure you include a repairs/maintainance expense & a reserve amount for capital expenditures.

I do intend to become a full-time real estate investor, but not at the moment since I'm having tremendous fun being a full-time Venture Capitalist.Perhaps a low-key, low maintenance investment then is the right way to go for me at the moment then.May I ask, Allen and Jeremy, what are the key numbers you look at in a property that indicates to you that it's a good deal.For instance, is the ultimate consideration how much net-net income you'll have after servicing the mortage and all other expenses (regardless of how big or small the mortgage may be)?

I am trying to decide if a HUD property is worth any more consideration for a owner occupant FHA 203k rehab loan than I've already given it.

I understand that a considerable investment of time is involved.What would be a good area to invest considering my goals?

Regarding Little Village- One of the considerations is the on going gentrification in the area.  

That being said, if the tenant you are getting with the local property is a nightmare I would make that part of my consideration for buying the property.

This is also taking into consideration, a 25% vacancy factor.- FHA also limits you to a total of 7 units including subject property and all other rental property. 

Thank both of you for the replies, I will take them into great consideration.

Hi bp, quick question when going after a short sale what amount of money is normal for the deposit? It's not $10 bc I'm dealing with a agent so just wanted to get some feedback from the BP community.  Thanks in advance.

Residentagrees that the lease break fee is a liquidated damage amount agreed to by Resident in consideration of, among otherthings, Agent's waiver to seek from Resident future rent for the entire amount of any uncompleted rental term, plusre-letting related fees, costs, and expenses in the event of Resident's default.