The rent roll is correct at $144k per year, apparently there is additional income from laundry, but don’t know the numbers yet.

The other side hustles you mention are great additional streams of income... if you are passionate about them.

Purchase price: $50,000 Cash invested: $20,000 We bought our first single family home, a 2/1 with minimal work needed.

The kicker is that this person living there then makes you spend additional money to go through the legal process to get them out of the house that you are using to subsidize your living.Hope this helps and let me know if you have more questions.Geoff

(All of this is assuming you have minimal experience and this other person has been investing in real estate successfully for years.

Then imposing a nominal annual registration fee and an additional tax on short-term rental income.

I have two options in front of me either to obtain a rehab loan, which will cost me $10k for six months ( points, fees, interest) or just finance the entire deal with my own money (cash).The rehab loan will enable me to obtain an additional property, so in six months i'll have two properties ( one with the loan, another with my cash)  but it'll cost me an extra $10k (on top of the regular down-payment which in any case i'll have to lay out) .

To make it easy, I add additional 1% for PM fees.Long story "long", I use 11% for PM fees :)

My main concern was that with a HELOC I would not want to carry the additional payment for a long time, so maybe investing in a flip or something that would allow me to recoup the cash within a relatively short period of time would be most beneficial? 

Some of the larger expenses-Interior/Exterior Paint, Storm shutters for a few of the front large windows, added additional cabinets to one unit, New refrigerator from Dent/Scratch store after old one died, Laundry units that tenant pays +$50/mo for etc.