If you look in the 50-100 range with duplexes 3 bed+ I’ve seen a lot that cash flow 15%+.

The reason why the deal intrigues me is that it is a condo unit in Downtown Chicago that is not in a high-rise and has low HOA fees ($150/month).

What I’m thinking (feedback please):- Completely gut the top floor and put 3-4 apartments/condos up top (these would lease for $600-$1000 depending on size).- use back half of the lower level for self storage facility and rent those out.- Lease out the store front half of the lower level to retail or something similar (not a priority since the apartments and storage alone will cash-flow the deal)Operating Expenses: ~$11000 (high estimate)NOI: $26350.00Debt Expense: $18914Cash Flow before taxes: $7438.00Taxable NOI: $4425I’m not looking to pay myself anything, as I’d just like to hold this as long as possible for my kids and to learn as much as possible for my next deal.

Both of these articles referenced the "A" in BARRRR, AND I learned something new that's perfect for a friend who wants to house hack a duplex and AirB&B her unit when she's out of town. 

But then again she has never closed on a multifamily before, she has only done single families and single condos.

If you are renting  5k a month ocean front condo, then I would be concerned.If this is a 1k rental in a b-c area, I would be more concerned with job history, evictions and criminal record.  

One of my buddies and I are looking to get into Real Estate Investing and have come across many articles and advice on starting out with a live-in duplex as an investment property that can be financed using an FHA loan and eventually rented out after a year of living in. 

I am looking to refinance a few properties I own: Duplex in Harrisonburg, VA and two townhouses in Norfolk, VA. 

Does it make financial sense to buy a duplex or 4plex in an affordable market as an investment property when I am currently renting myself?

Let’s say my condo makes 30k/yr in AirBNB before taxes, after all my deductions I claims, let’s say it come to 20k that I made, will it be taxed as regular income tax based on my overall income from my other W-2 income, and just putme in whatever bracket?