It is effective Aug. 1, 2024.This ordinance is referred to as the Source of Income Discrimination Ban Ordinance" - which is identified in File #231019 and amends sections of Chapter 38 (Civil Rights) and Chapter 34 (Health and Sanitation) in the Missouri Revised Statutes for the purpose of classifying source of income as a protected trait in regard to housing discrimination.Here are some key takeaways from the attached ordinance:This ordinance bans discrimination against tenants based solely on:Source of income from an occupation, including gig work or paying rent in cash Use of public programs like Section 8 Housing Choice Vouchers, disability checks, or social security Poor credit score Prior evictions and alleged damages older than 12 months (less than 12 months can be a basis for denial) Prior convictions or arrests (sexual and violent crimes are excepted, a landlord can still deny based on these convictions)The ordinance also requires the city to proactively scan for rental ads using discriminatory language like "no Section 8" or "no past evictions".Landlords who are found to be in violation of the ordinance with respect to source of income can be fined up to $1,000 per incident.

if you don't, you could be way over and that will mess up your whole strategy of a positive cash flowing unit.

Reason to rent is to have to a loan payed off and a few hundred dollars each month cash flow after all expenses.

She then explained that being african american, she had not been able to obtain a rental; she had lived at her last house for 3 years never late on a payment.

Rent Payment Ledger.

As such, we are considering owning the properties in our own names to minimize tax burdens.Our primary motivation for investing in real estate is appreciation, as current projections show neutral cash flow.

You could also do a simultaneous closing of a fixed first mortgage as a ‘cash out’ refinance and piggyback a new investment property heloc for future use..although the heloc rate will be stronger on the primary.

Also not sure when you bought your primary residence, but most likely rates have risen which means your payment would go up. 

My two cents summarize is that you can make some nice cash, especially for the northeast, but at the same time the units will be management intensive and given the landlord / tenant laws of MA, one troublesome tenant could wipe out many month's / year(s) of profit.

You can specify the coverage level for the dwelling, household furnishings, loss of use, liability, and medical payments to others.