If you are called into housing court (or whatever it is) and you tell the truth when asked if you are treating the basement as a bedroom - you will be told you are in violation of the code.If you disagree with this assessment, you should consult with your attorney.

Does your company manage it or self manage?

Get your self a copy of the Ohio Revised Code Title 53 chapter 5321- Landlord & Tenants.

@Craig Price - I think you'll find that it depends on your financial goals & objectives.

I am truly self taught and that's because I have the drive and motivation to learn.

However that would be after PITI + Property Management (even if self managed), maintenance reserve (based on property condition, age, location, etc), and other costs such as utilities, landscaping, or applicable association fees.

See your attorney if there is any objection. :)

@Joe Delia will be helpful but remember that he not only is an investor but his full time job is being an agent and they need to make a living as well.The more self-sufficient you become in property research the easier it will be to find an 'investor friendly' agent.

Once you get all of that up and running to where it becomes simple maintenance and content adding then you can expand into paid ads.PPC can result in good leads but are very pricey depending on the keyword and the market you are in.SEO is great for long term organic results but SEO is risky in my opinion because everyone is a self proclaimed expert at it and with Google constantly changing how it ranks sites what works good today could do the opposite next week.

If it will work with the 50% rule (or less if most of the utilities are separate and you plan on self managing) and a 30yr fixed @4.5% for $285K and assuming you live in the 1BR you would have $1,700 in expenses (I never reduce those just because you live in a unit, just my opinion) and $1,444 debt payment for a total of $3,144.