Other retail near by are a couple of small grocery stores, a child care facility, a 'fellowship' center, a 'gentlemens' clubI think the following might work;- New / Used furniture & Appliance- Car / truck rental- Equipment rental center- Any other thoughts?

Property details= 2 BR/2 BA, Flat, Laminate floor, One car garage, decent sized backyard, next to Hospital and Great medical district of a University Listing price was 74KOn market for 6 monthsAgreed purchase Price 65KDown payment is (20%)= 13KBank finance 52K @ 4.5% InterestAnticipated Rent is $675-750 per monthSo after the inspection, for it to be move-in ready I'm looking at about $1K repairs and possibly $500 to renovate/update.So based on the math: 1) It doesn't meet the 2% rule (would be $1300 rent, not even close) 2) But meets the 50% rule (337 - 267= $70)In addition, my net cash flow (deducting CapEx, repairs, PM, etc) is looking like $70+/month) so it isn't like $100-200 like what most people would want.

What if there was an accident in the house and they are both in desperate need of medical attention and can't get to a phone?

Hi everyone so I think I'm just on information overload, I know I want to get into REI and I need to for my family.I wanted to get into REI 10 years ago, then after job cuts and losing my job i landed a another job but was completely side tracked, managed a nightclub and while that paid well I had never really been a kid while I was 19-23 so when I got that job I kind of became a kid and had fun 24/7 while building the business to huge heights and loving every second of it. 2 years later my girl and I found out we were gonna be parents, I had to go get a "real" job with medical benefits asap, no more play time it was daddy time.I quit drinking and going out, went and got a union job and got full time in 4 months after starting to have the medical for my family.

Benefits such as medical coverage, dental coverage, short and long term disability coverage, etc. that is included with my employment.

I knew someone house hack while he was in medical school.  

My husband has construction background and I would manage the facility, turn apartment as needed, etc.

Good things can happen from this, but I must give you one piece of advice that you cannot take for a grain of salt.There are no groups of people that are more notorious for shooting themselves in the foot when it comes to real estate than:A. a group of lawyersB. a group of doctors/medical staffC. a group of teachers/professorsFor some reason, despite their high IQs and whatnot, they get into horrible deals time and time again, and their real estate careers typically last 1 or 2 deals max.This doesn't have to happen as long as you're ultra consercative in all estimations and calculations when landing your first deal.

Offices unless medical tenants are generally on gross or modified gross leases.If tenant is reimbursing some expenses then likely they are only paying for the space they occupy.

I also have an offer on my primary so I will get my equity out and have reserves if and when it closes. if the deal doesn't come apart we will have a 28 unit storage facility by the 1st of November.