This amount is below what I pay now; however, this rule does not apply to "hotel apartments," which is my apartment classification.

So initially I think it looks really good to new investors.

My cash in was 10% of the purchase price plus paying upfront for the appraisal ($660).

I had 19 of my 200 rentals in Dayton OH for that exact reason and you pay for what you get. 

.= approx. 700My monthly cost for living in one unit= approx $1800 (which is what I pay to rent right now).

Even buying a $100,000 property wipes out almost everything and that's assuming you don't have to make any initial fixes/repairs.Retaining as much of your personal capital as possible should be a priority so that you can cover anything that may come up in your property or in your personal life. 

It pays for the water, sewer, taxes, and provides us with a small cash flow distribution each year.

So, does a 3rd party purchase the property and the buyer pays the 3rd party?

Individuals overwhelmed by debt may need to liquidate their property to pay off creditors.Divorcing CouplesDivorce often necessitates the sale of shared property to divide assets quickly.

I am currently a consultant and I have a CPA but I am hoping to break into real estate investing initially on a small scale and continue to expend my real estate portfolio until it is a full time occupation.