You might want that in the first year as it increases your cash flow in a period when usually propriety performance is weak and the cash flow is lower (and that could be useful in financing/refinancing said property).

If I rent it for $1100 I break even but if I get $1200 it brings me to the $100 cash flow that I was looking for. 

And I can get more cash flow post refi.

I have a fourplex with the mortgage and title in my name but my brother and I are 50/50 partners on everything (cash flow, capital contributions, etc.).

, or just save any cash flow I might have to save up for a down payment on property #2?

I'll get the roof checked out during the inspection.Here are the numbers:Purchase Price - $191,000Comps - $195,000 - $205,000Taxes - $2302Insurance - $950Utlities  - $0 (tenants responsiblity)Total Monthly  - $1050Rent - $1650-$1800 - I'm thinking closer to $1,700.Total cash flow = $650With vacancy reserves, I'm looking at close to $500 cash flow monthly.

This deal looks like a negative cash-flowing deal Pati.

We currently own one house that has around 44k left on its mortgage and has a value of around 120k that we rent out with positive cash flow. 

Although some still cash flow on paper, I have heard that it is never a good idea to buy "the nicest house in the neighborhood," or in other words, pay the most per square foot for a neighborhood.

Duplex 3/2 (large backyard) + 2/1$299,000 - $3,000 in repair creditsRealtor commission assigned to me at closing: $7,100 (my girlfriend was my Realtor and I am licensed as well)Current rents: $1,300 / $1,100Rents after remodel: $1,800 / $1400Estimated cash flow: $150 per doorRehab budget: $15,000Loan type: FHA 3.5% down (I will occupy 3/2 for one year then ReFi) Realtor: Morgan Marziali - Whitaker Realty *Review inspections but don't let them panic you.