Purchase price: $330,000 I bought my first house at 22 right after I got out of the navy I have two roommates that pay my mortgage I pay the utilities and internet How did you find this deal and how did you negotiate it?

@Nicholas L. thanks for the response, I'm planning to consider my personal expenses + housing expenses when saving.For my housing expenses, I was going to include operating expenses such as (taxes, insurance, utilities, etc) and then the mortgage and PMI.

There is a new build project of a 3 bed 2 bath bungalow semi with attached garage for under $400,000 that comes with a rent guaranteed of $2000 per month plus utilities for 2 years.

Teaming up with a realtor and utilizing various Facebook Groups sounds like a perfect place to start.

Regarding the tenant utilizing extra space, you can provide a rental increase package to him since it sounds like he has a verbal agreement.

If you decide you don't want to take cash out and rates continue to stay low, you can always utilize the VA Interest Rate Reduction Refinance Loan (IRRRL).

You have gross rents, and can likely figure out remaining expenses (taxes/ insurance/ remaining utilities etc.) for an NOI.

Utilities are there though.

I set aside 10% for maintenance/repairs and 10% for CapEx, but as I continue I'm curious if I should readjust accordingly each year or quarter depending on not utilizing those reserves.

You should look into the utility costs for the property (better gained by calling the utility providers than asking the seller usually), have the seller participate in an Estoppel agreement, and that's about it in my opinion.