If so, it seems like it would be easy to be badly in the red before even getting a house under contract (in addition to, obviously, the marketing costs).

But if these really are the numbers then from first glance it doesn’t sound like a bad deal.

I don't love it, would recommend to make sure you won't be putting yourself in a bad position.

Pros: -Most major cap ex fixes are covered-A lot less to rehab if bad tenants- great HOA can fend off bad neighborsNegatives:-If problem happens between units can be a headache-tenants tend to not stay as long-bad hoa can cause some issues There is many factors for you to determine- each situation is different

Add in the down payment of $3500 and you're at $69,465.You're paying market value and getting a high interest loan.Also, verify the trash and sewer data.As for the house itself, seems like a bad deal to me.

We sat down and he mentioned lease option is a great way to start my investing career.

I'm  a firefighter by career, have a family and not much money but EAGER to learn and find a way.

As far as cash flow, the best way to achieve at least 1% is going to be through multi units.Getting your license wasn't a bad idea because it helps you get a feel for running comps and understanding the market better.

If you can find something in your market that negates your living expenses then you have more cash to throw at your debt and you've already begun your investing career.

If they start demo,and then never get back to that site, you're in a bad position as you've put in 100% and now have to put in 100% of the rehab as well when you take it back.