Finish the third floor as a studio apartment and rent separately.

So that 1k/mo actually was enough to cover all my expenses, and I had enough cash on hand to pay off all my (non-mortgage) debt.Of course, I wasn't getting ready to quit investing, so instead I used part of that cash to acquire a triplex in Muncie, Indiana, which adds another $800/month to my cashflow.Additionally, I rented my recording studio (built into a detached garage behind my primary residence) to another engineer/producer here in Nashville.

The first, I'll post here and provide updates along the way.Property Info:Unit 1: Studio basement apartment that is in good condition and was "somewhat" renovated.

I get specialty ones on Amazon cloud as they are not readily available in bookstores.

They called the course,  "Cash Flow for the 90's" They approach their lease option deals from the prospective of the property manager focusing on tired landlords or people who don't want to rent.Save your money and buy things on eBay or amazon.

And 36 Other Key Financial Measures" http://amzn.to/Zv0Zph (on Amazon) to understand how to measure and analyze the financial performance and returns of an income producing property.

I read also in one of my $0.99 Amazon books that the realtor could set up a line of credit to pay for your advertising each time you send them someone.

You can check Amazon for highly rated books on these subjects and check the local library to see if they are available.

Have Amazon send you security cameras and some dummy ones to the hotel so they are there when you arrive.

That's awesome.Luckily for you, BiggerPockets put out a free E-Book on the exact subject of renting out your home. you can check it out here on Amazon: A BiggerPockets Guide: How to Rent Your HouseEnjoy!