We purchased a 3 bed 1.5 bath home, 1500 square feet on half an acre:Purchase price: 66K; 20% down paymentRent: 850.00PITI: 390.00Vacancy: 10%PM: 8%Repairs: 10%Cap Ex: we have a separate account set aside for this that we fund ourselves and contribute to monthly.Rehab costs: 3K (paint, flooring, cleaning)Monthly cash flow: 222.00Cash on Cash return: 16%I'm happy to have our first deal done.  

I've learned everything I know involving real estate investing from Bigger Pockets.

Tagging @Gino Barbaro for you, Account Closed.

Our first goal is to invest in a multi family and house hack for at least a year, probably using FHA loan if possible.What better way to really get involved and committed than having to actually live with/in my first investment.

If you want to manage it yourself, get a merchant account set up so you can take credit cards and plan on spending the $800/yr on HomeAway or VRBO to be included in searches.

My husband Shane and I have been pretty involved in real estate here in Southern WI for the last 7-8 years. 

Also - when calculating your cash flow, be sure to account for property management costs, vacancy, maintenance, and especially cap-ex. 

Make sure you account for this as well and not just the monthly savings of getting PMI off. 

Taxes have been properly filed each year to account for the rental income, however the first house listed has not been shown on taxes yet because we do not file this year's until next April.  

Our first goal is to invest in a multi family and house hack for at least a year, probably using FHA loan if possible.What better way to really get involved and committed than having to actually live with/in my first investment.