Also – side note, I have been a bigger pockets fan for 3 years now and it has motivated my wife and I to FINALLY purchase our first investment property last year.

Other people on these forums would slit their wrists if the unit failed to provide enough free cash flow and they could care less about principal reduction and appreciation.The 5%/45%/50% figures I heard from Matt Faircloth here:  And Brandon Turner described expenses being about 50% for a rental property in this video, though he included vacancy as part of the 50%:And I agree that you can't lean on these percentages in making your final purchase evaluation; you have to have the final numbers quantified.

I was finally able to purchase a house for my family so I have 3 total.

Locally, meaning SE MI / Detroit, this is a familiar story. 

I was finally able to purchase a house for my family so I have 3 total.

I am still hoping to be able to reschedule the new house settlement soon if I can just close out the refinance and have the funds disbursed.Later in the day on Thursday I was told that the mortgage company had obtained the disaster insurance certificate and my loan was in final underwriting and could potentially close Friday or Monday.

Second, it is a little intimidating with me being the final decision maker!

You can even be added to title during the purchase, though if you already have final approval it might be a tad inconvenient to get the needed addenda and everything ready.

So I’m finally taking the equity out of a duplex I purchased back in 2015.

We’ve also experienced a worldwide pandemic in case any of you weren’t aware… The results of all of this has left me with some debt, and less than stellar credit which I am working hard to repair as I get back to work again, finally.