Overall it will balance out so as long as you get the numbers to work it is a wash.

A few months back I purchased my first multi family property as I was told throughout my reading and research you should always put money aside for incidental fees such as minor repairs around the property and big ticket items roofs windows floors boilers etc.My question is I have a home warranty program that covers boilers hot water tanks electrical refrigerators microwave washing machine plumbing etc. do I still need to put money aside for repairs?

My next step for this property is to move out rent my unit because it's amazingly renovated with granite counters, transformed bonus room into office and created a laundry room in basement, to than cash flow around 600-650 on this property.

Are there additional income streams available you are not tapping (garage, laundry, storage, AirBnB)?

Currently the layout of the property is as follows:•2nd floor unit: Kitchen, 2 bedrooms, 1.5 bathrooms and living room•1st floor unit: Kitchen, 2 bedrooms, 1.5 bathrooms and living room•Basement level: (Divided into a legal garden unit & public utility/laundry room) -Garden unit has 2 bedrooms, 1 bathroom, living room and kitchen -Utility room has washer & dryer, 3 HVAC units and 3 water heaters.

Also how are you handling washing/changing sheets? 

When I told my realtor/investor friend about the car I was buying and how excited I was, he said to me why don't you invest that money in a $100k rental property and use the monthly proceeds from it to finance your car purchase? 

The bed covers or mattress protectors appear to never have been washed or checked for stains or dirt - disgusting!

They are old houses (like everything in New Haven) and no significant deferred maintenance, but things like adding AC/mini splits, parking spaces, in-unit laundry would definitely increase our rents.I'm inclined to grow the number of units first, then renovate as needed to maximize rents later, when we're closer in our lives to using the cash flow for ourselves.My spouse is more inclined to add all the extras to maximize rents now, and go slower buying new properties.Can anyone weigh in on either side?

Then relocated the laundry and added a door to the storage room for access.