I love that you rented two of your bedrooms as mid term and short term rentals and made enough to pay for the mortgage and now you are going to use the rental income to show you can qualify for another property.This is an excellent strategy and one more people should consider doing in this inflationary environment to offset the biggest cost in their budget--housing.As you rightly point out, you can use this strategy with every house you buy accumulating a portfolio of houses that you originally started out living in as a primary residence every two years.Well done and more people should consider doing the same, or rent their garage, or shed, or a boat, or an extra car.Love it!

Investment Info:Single-family residence buy & hold investment.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Miami.

I am from Michigan and I am looking to buy in Detroit and suburbs around Detroit.

Hey BP family,I am new to real estate investing but would love some experts insights so I don't get burned on my first dealThis is the property: https://www.zillow.com/homedetails/724-N-22nd-Ave-Bozeman-MT...My thoughts are my wife, 8 month old and I could live in Unit A for a year or two while we rent out Units B & C to help cover the mortgage payments until we build/buy a more desirable family ranch home with min 10+ acres which we've been looking for but have yet to find.My hesitation is I've never been a landlord and am reluctant to get in over my head with property problems while simultaneously growing an online business and being a new father.After some negotiation we counter offered 895k with a 2-1 rate buy down for 20k and the sellers have verbally accepted but since our offer expired we need to resubmit.

No, if you want a low downpayment you could buy it with a FHA loan and live in one of the units the first year. 

Those are really the things that will get someone to rent or buy a house more than the mechanical items.At minimum paint will go a long way to give your property a cleaner look and make it more desirable.Good luck, hope this helps!

My idea, together with a partner, is to use the DSCR loans to buy different properties in the midwest.

Do you have the ability to buy another home that would make you happy and rent the other out? 

Have a plan and target property, and be ready to buy.