I am looking at properties in Minneapolis and came across this one: https://www.zillow.com/homedetails/4239-32nd-Ave-S-Minneapol...My thoughts are, if I were to purchase this property, do a basic repairs to kitchen and baths, and advertise as a STR or as basic rental.

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

@Maxwell Ventura I invested in Long Island (Suffolk County) because my realtor back in NY found me a property that fit my needs (needs rehab, has a basement, and 2-4 units).

Hi,I built a basement kitchen to add a unit in the basement, I didn’t get permits, just built it with local contractors and my own skills. 

If you use a base fee your tenants' friends and family will show up and will run your laundry machines ragged.

Also, should what I save go into a basic saving account or an investment account? 

Also, typing “finding comps real estate” on YouTube and just doing a basic internet search for the same key words will get you started.

If you want the best cash flow, you can find a single family house with a basement apartment, and live in one bedroom, rent out the other bedrooms upstairs, and then Airbnb the basement.

One option to fairly charge tenants for gas usage in this situation is to allocate a base amount to each unit to cover heating needs during the winter months.

I know there are numerous variables that can add or lessen costs, I am just trying to get a general idea of how much a basic 2 or 3 family unit will cost.