Looking at the numbers CAPEX and repairs add a huge amount to the monthly expenses.For instance, this third deal:Monthly Income: $1,100Monthly Expenses $1,134.14Monthly Cashflow: -$34.14Pro Forma Cap: 5.22%NOI: $5,215Total Cash Needed: $11,050Cash on Cash ROI: -3.71%Purchase Cap Rate: $5.73Sale Price: $91,000Closing Costs: $2,500Renovation Costs: $4,550 (5%)TOTAL PROJECT COSTS: $98,050Down Payment: $4,550 (5%)Loan Amount: $87,314.5Loan Points: $864.5 (1%)Amortized: 30 yearsInterest Rate: 5%P&I: 468.72Total Cash Needed: $11,050Property Taxes: $2,184/yr2% Rule: 1.13%Initial Equity: $12,685.50Gross Rent Multiplier: 6.89Debt Coverage Ratio: 0.93Expense Increase: 4%/yrIncome Increase: 5%/yrProperty Value Increase: 4%/yrCash on Cash ROI: YR1 (-3.71%) YR2 (-0.63%) YR5 (2.64%) YR10 (9.76%) YR15 (31.56%)Annualized Total Return: YR1 (2.48%) YR2 (22.27%) YR5 (26.37%) YR10 (26.47%) YR15 (22.20%)Total Profit if sold: YR1 ($274) YR2 ($5,469) YR5 ($11,251) YR10 ($24,701) YR15 ($70,982)Expenses:HOA: $82Insurance: $66Taxes: $182MTG: $468.72 (@5%)TOTAL: $798.72Vacancy: $110 (10%)CAPEX: $190/mo (~2.5%)Repairs & Maint: $380/mo (5%)TOTAL EXPENSES: $1,478.72These expenses are different than the $1,134.14 mentioned early on.

The assumable clause mentioned above is GREAT advice in the case we have rising interest rates.

The one issue with having different portfolios in Appfolio is that all the money flows into the main account and you can't have separate bank accounts for each separate portfolio, I don't know if that is an issue for you or not, but felt it was worth mentioning.  

Locally, (I also live in Matthews) I would encourage you to visit many of the meetups as some good ones have already been mentioned.

Can you please mention a few major differences in residential and commercial financing?

I'll research some of the areas you mentioned, thanks for the help man

As mentioned above you want to work within your field of study or you are going to find it tough to get a mortgage without 2 years of work history.

Just as a minor rule (and of course please check with your local laws and how it applies in this case).Everytime, i run into an issue with a tenant (regardless if it is minor or major one), i try to add a clause for it in the lease; so it it then mentionned in the lease they sign next time.I hope this tip helps some folks here.Best,Taoufik

Originally posted by @Tom Gimer:@Patrick MartoneIf you refi out of your HELOC, your line of credit will be closed and you will no longer have access to it.If you have a bunch of equity in the subject property, you could ask the bank to increase the line OR or you could get a new first and at the same time pay down and subordinate the HELOC.Hmm,  I'll have to double check, but the fine print mentioned something about getting up to 3 fixed-rate loans. it seems common across different institutions.

If these are just nail-size holes (since you mentioned "nail holes in the walls"), then that usually falls under normal wear and tear.