Most new homes have 200-amp service, therefore you would probably want to upgrade that depending on your situation.

I ran into this situation once also. turned out the house I was trying to find was built on the same lot as another house. the owner owned a large lot and built a second house on it and somehow the county wasnt tracking the second home!

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

I have $200,000 and I want to turn it into a passive income.Since it's my first time in the real estate world, what would you recommend to be the best way to start and the best thing to do in my situation?

Currently in a very sticky situation.

. $25,000 means the most expensive property you can buy is $100,000Without knowing your situation or location, consider house hacking.

I would not recommend you to reach for a break even/negative cash flow situation in Austin at this time. 

In an ideal situation, the refinance, at a minimum, will allow you to recover all of the cash you put into it, and still have good cash flow.

Our financial situation is significantly different than yours, though, and you need to do what is right for you.

Why would a standard lease not work in this situation?