I'm new at REI and I have a broker who would partner with me, but himself is overextended financially. 

It probably won't be your perfect investment, but you won't know it unless you take action.

I have owned 1 home in the past (bought at the trough during the Financial Crisis, renovated, lived in it, rented it for a year, and then sold it for quite a bit more than we paid).

So based off this calculation I determined that my portfolio is strong enough to move on with my expansion plan into a new market.Business expenses as % of total expenses : 70%   1) Fixed Expenses:        a)Monthly Mortgages: 45% b)Property Taxes: 18.7%c)Utilities Expenses: 14.8% d)Licenses & Insurance:  5.4% 2) Variable expense - Water bills + repair expense : 16%  Personal Expense as % of total expenses: 30% My monthly living expensesa)Housing: 39.7% b)Child Care: 25.4%c)Living expense: 22.2% d) Food: 7.9 %e) Insurance: 4.8Income 1) Total Income - 100%  A) Rental Income: 42%  B) Wage income (W-2) : 26 %  C) House Flipping Revenue: 23%  D) Property Management Revenue: 5%  E) Stocks/Dividends: 4% Please let me know if you would like help walking through this process as it has been super helpful to understand my financial situation or send you the spread sheet I used.  

I am meeting with banks and some local connections I have with real estate agents to start getting a feel on my position financially as well as get a feel for the local market.

Then take action.

Offer your services as a financial analyst on a consulting basis. 

Get a rentroll, leases and financials and have an inspection done by a licensed inspector.

I have made my share of mistakes and they can be mentally draining and financially painful. 

I am a born and breed Rhode Islander, currently working as a Marketing Manager with strong ambitions to be financially free before I am 35 (currently 26).