But I am single so there is no second household income.

I would like some additional input and guidance on a current project that I have. 

Section 8 can be a great way to fill a unit rather quickly as well as generate income! 

Seller-financing is the only option for me as my income is through my LLC which isn't older than two years.  

Are there higher income producing activities that would be a better use and could make you more than what could be $25 a week to cut grass?

Who: Wyoming Valley Real Estate Investors AssociationWhat: January Real Estate Meet-UpWhen January 30, 2024 at 7:00 PMWhere: Grotto Pizza (Near the Wyoming Valley Mall, private room toward the back)Why: This month, in addition to talking real estate amongst the group, we are fortunate enough to have a home inspector from Pillar to Post Home Inspections speaking.

Here are some common financing options:Traditional Mortgage: Obtain financing from banks with a down payment, paying off over time with interest.Hard Money Loans: Short-term loans with higher interest rates, often from private investors, suitable for quick acquisitions or credit-challenged investors.Private Money Lenders: Individuals or groups offering direct loans, with terms negotiated privately.Seller Financing: Buyers make payments directly to sellers over an agreed period, with terms negotiated between parties.Home Equity Line of Credit (HELOC): Borrow against existing property equity with a revolving credit line, typically offering flexibility.Real Estate Crowdfunding: Pool funds with other investors via online platforms for various real estate projects, offering diverse investment opportunities.1031 Exchange: Defer capital gains taxes by reinvesting sale proceeds into similar properties within a specific timeframe, useful for tax optimization.REITs (Real Estate Investment Trusts): Invest indirectly in real estate through publicly traded companies, offering liquidity and diversification.Joint Ventures/Partnerships: Collaborate with other investors to share resources and risks, leveraging each other's strengths for larger projects.Subject To Financing: Buy a property subject to the existing mortgage that's in place on the property (doesn't get paid off when the property sells).Assumable Mortgage: Buy a property and assume the mortgage that the seller already has in place.Lease Option: Rent a property with the option to buy it prior to a later date.Debt Service Credit Ratio (DSCR): A loan approved based on the income potential of the propertyThese options cater to different investor needs, preferences, and financial situations, providing flexibility in real estate investment strategies.Thanks,

So, perhaps his income should look larger.

On the other hand, your rent payment will be part of the investment property income, so the numbers may work.Example:A fourplex costs $500,000.

In fact, FL does not even have state income tax.