After 45 + years as a real estate investor, broker, lender, fund manager and syndicator, I’ve become aware that the “dream” of many investors and investor “hopefuls” is to be able to generate enough cash flow to live off their real estate holdings and accumulate enough wealth to make “work” optional.

I find that depending on the market $300-500/mo are fairly normal and if compared to what you would pay with a single family home on some utilities, maintenance, and management, it's a good deal.

From experience, finding a knowledgeable accountant is key for handling taxes effectively, especially when splitting expenses, claiming deductions, and managing depreciation.

(One went with another manager eventually, and the property is listed for $400/month less than we listed it, and the other finally got rented to a solo professional.)

Since your goal is getting into commercial real estate, it might make sense to start with a smaller rental property like a duplex to get experience managing an investment.

However as Texas only allows a HELOC on your Primary Residence, I don’t want to lose this facility if I move to a new place (and I want to comply with the rules!).

Oh man- welcome to self management.

A scenario like that would likely result in getting your entire investment back upon refi and also a nice cash-flowing rental to manage.   

Self-purchased and managed.

Hello everyone, I am analyzing the Indio, CA market as a short term rental investment and we'd love to speak to someone who is self managing their own vacation rental.