Be careful that you don’t spend too much on the buy end in this hot market, because if and when the market turns down, you want your investments to feed you, not eat you alive! 

We are a couple - enjoy nature, going out to eat/drink maybe once or twice a month.As of now, I plan to do a 30 year FHA owner occupied - after 1 year I will move out so all units will be rented out and I should be cashflow positive around $500 or so.

Hey BP fam,Firstly, let me say that I am an animal lover who has grown up with and still has pets, heck my wife is in the process of opening up a non profit animal rescue.

Other things to take into consideration are that PM companies will generally charge a leasing fee of 1/2 to 1 months rent and often charge some type of releasing fee annually as well which really eats away at profits. 

I feel like the common theme is “take advantage now.”My thought though as I was eating a bowl of Captain Crunch this morning was...If I bought another property today with plans to sell in the future.

Has color variations (depending on sun/shade), and animal foot prints (chickens, etc. that walked through when tiles were wet).

Has color variations (depending on the sun/shade) and animal foot prints (chickens, etc. that walked through when tiles were wet). 

You’d have to decide for yourself if you want to manage the property remotely yourself (totally doable, but a bit more work) and make a higher return OR if you want to outsource the management altogether to a 3rd party and not have that hassle (you’d typically pay as much as 25%, which would likely eat up most of the profit). - Lastly, as far as the actual property goes, what I usually recommend is to setup an alert on Zillow or Redfin for the type of property you’re looking for and just monitor new listings as they come in.

And that can definitely eat into your year-long returns on a rental property.

One person has 2 animals and the other had 3.