So in other words I'd be able to rent without paying any extra out of pocket from what I'm paying now , the interest income would make up the difference, and I wouldn't need to touch the principal from the sale of my townhome.

A logo would certainly add a little extra, I'm sure.

I'm a 20 year old college student so while i work on my degree at UM i want to buy a property (in Coral Gables hopefully) and rent out the extra bedrooms.

Extra income, extra profits, WOW the new CEO must be great.Common with many businesses and clearly nothing at all unique to banking.Emotionally the new guy as few or no emotional attachments to prior decisions so they can take the hit without feeling like they messed up.

That's going to make your expenses more like 65-70% of rent, if you just increment the 50% rule up by the "extra" taxes.Jon

His hope is to purchase and rent at +cash flow, and use that extra to first pay off the existing mortgage, then the new one.

Find the proper location where you can get the proper permits and approvals, and lease the space.

Jon, i don't have time to devote to 1000's of leads...i'm trying to pursue a music career and use real estate as a supplement..the wholesaling thing is just a way to generate extra income..so i'm happy w/ 100 or so leads even though the most i ever got in a month when i was trying to actively wholesale was maybe 15. who are the NOLA people u refer to?

Got some interested parties, so I'm hoping to do just that, and pocket that extra 50-60K..

I figured I could get him a 50/mo discount to move in, which would save him about $600/year in living costs.So that gives me about ~1300/mo to work with for a mortgage payment and utilities.Do you guys think it's possible for me to afford such a place (i.e. mortgage + utilities + any extra costs like taxes, etc.)?