I didn't quit my job straight away, mainly because i couldn't afford to, so I started RE and bit by bit closed deals until I'd saved up a years salary and then jumped in full-time. 

Our neighbor's main duplex rents for even more - $600-$800 per night. 

Brandon Turner, one of the main contributors to this website, always talks about how his first property was a duplex that he lived in, and I personally think that's a great way to introduce oneself to real estate. 

Some people classify a primary residence as a liability because there is no cash flow (I personally see it as an asset) and unless you are renting it out you are losing money but everyone has to live somewhere so you might as well be paying down debt on something you can potentially sell for profit later. 

Debt service would be at about $9,886.Based on the expenses provided it would be a great deal but having the conservative approach, being that its a small multi lets assume 40% for expenses.Income- $22,620Expenses- $9,048NOI= $13572Debt Service- $9886CashFlow= $3686/ year, $307.17/ month, $102.39/ unitAny feedback will be helpful.Best Regards,Rico

Debt service would be at about $9,886.Based on the expenses provided it would be a great deal but having the conservative approach, being that its a small multi lets assume 40% for expenses.Income- $22,620Expenses- $9,048NOI= $13572Debt Service- $9886CashFlow= $3686/ year, $307.17/ month, $102.39/ unitAny feedback will be helpful!

Any private lenders in Maine?

In total our grass income per-month is $2,555We also have 18k in debt.

One is bought at a 6% cap with 4% debt. 

Hoping to meet some like minded individuals that can help me understand what I am planning to get into, I want to start young and utilize my main benefit which is time.