You should take into account the expenses that go along with it, taxes, insurance, are you going to keep the utilities on you will need heat if you don't want pipes to freeze or you will need to winterize the property, if you are financing you will have those costs.

Account Closed You can use the a portion of the rental income as part of your income on a new purchase.

I have money in an inherited IRA account, that I am pulling out to purchase an investment property.

Originally posted by Account Closed:I would buy four single family homes for cash in the midwest. 

If you don't meet above criteria you can not setup a Solo 401k plan.You can use leverage when buying investment property in your retirement account, however because you are considered to be a 'disqualified person' you are not allowed to provide personal guarantee - therefore the loan must be non-recourse.

Account Closed Next time I want to use a "sample city", i'll be sure to use Pittsburgh, PA. lol

We bought a flip and maintenance doesn’t exceed $80/month — we just keep a 5k buffet in an account dedicated for major repairs.It’s funny that we ALL have our own spreadsheets.

It seems every potential tenant has at least a few accounts in collections.

I have a mix of residential, commercial and vacation properties and my management company, which deals with taxes, accounting and generally anything that comes up charges a monthly fee per property.

Account ClosedGreat minds think alike.