In addition, if you are considering a job in real estate investment and/or management it would look good on your resume.  

If you Airbnb your home a lot you should get additional coverage. 

I have five townhome condos in addition to a triplex and a larger MF.

Additional costs for snow and heat could add up as well.

@Michael Kistner Thanks Michael, I have heard certain banks are cashing out for lesser loan amounts so this seems pretty critical to making it work.

This doesn’t really provide me with any additional income as it pretty much covers the payments of 1500/month.

So financing it is an issue.I have experience with several remodels, additions and gut rehabs for my properties where I was the GC (planning, permits & inspections, subcontracting)I can probably start small and purchase cheaper properties with cash (around $100k+) and rehab/remodel/rent/flip and build up a portfolio.

The best he can hope for is to plead ignorance; blame the contractor, and hope he only gets charged for the water that has been used and not being fined in addition to usage.  

Duplexes give you the additional tenant while still being in nice neighborhoods.It is even more critical to screen your tenants effectively for smaller properties as even one vacancy can create a huge headache. 

He likes to be paid that way on fixed cost jobs.This company will be building a garage for me and a room addition on another house as cost plus.