You learn some things about being a landlord, you learn the process of purchasing a home.

Landlord Tenant Law?

It is hard to find landlords that are willing to use the program due to lower rent payments.

My ultimate goal is to purchase and develop land in the ever receding outer exurbs in my region.Here is a little about my world of late: Home Automation and Security technology is developing at breakneck speeds these days and staying on the cutting edge is a full time job, especially when it comes to understanding the vulnerabilities associated with these new technologies (think "Hackers"...they really, really, really do wreak havoc..no joke).

One of my leads is a fixer upper on a nice plot of land.

Hopefully with a buy in with my equity.To develop the the whole lot I am estimating that the project would need ~$5m NZD ($3.6m USD) the land itself would be ~$1.4m NZD ($1m USD)Property 39b has been sold since my original post.

I am currently working on purchasing an 8 unit property from my parents who are tired of the land lording life.

Since I'm going to have to be a landlord, I'm very nervous about what I need to know and what forms I need, etc.

If I were in your shoes and I landed a deal where I would use my 40k as a down payment and cash flow $500-700 monthly you can then use that towards your loans on monthly basis (assuming you keep some for reserves, etc).

I was curious as to whether there is a wait time needed before a landlord could add the monthly rental income he receives from his multi family property onto his own personal income?