Let's say you split the cost of furniture over a 12 month period amortization rate.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You're not making money. 

My first purchase, first property, I had a great realtor.

I am just out side of Elkhorn, WI and selling our property the is 5 blocks from the lake.

@Shaun OrtizEvaluating distressed properties remotely can be a little challenging but it's doable with the right tools.

But in reality, for younger people with moderate income, I actually see less benefit to financial planning.  

Nothing 3 or 4 unit will pass the FHA self-sufficiency test, unless you are going to get the property for at least 30% off of fair market value. 

But I ran some actual reports for clients this week and wanted to share.

How nice is the property?

The BRRRR strategy is tough these days (I even wrote an article about it that goes into more detail a little while back: https://www.biggerpockets.com/blog/beyond-brrrr-taking-advan...)In short, high interest rates as well as labor/material costs makes it hard to buy a property with debt and cash flow. 

@Cole Starin sometimes it makes sense to sell the WORST property in your portfolio.Another option is why do a LOC on the duplex, when you could just do a $100k cashout refi to pay off all your debt AND keep the property?