I was able to structure the deal to purchase the land for only $1k and the extra cost went into the duplex, which allowed me to finance a lot more of the cost than I would have otherwise.

I was able to structure the deal to purchase the land for only $1k and the extra cost went into the duplex, which allowed me to finance a lot more of the cost than I would have otherwise.

I'm more interested in buy and hold but I may use flipping or something similar to bring on extra income while saving up for a rental

Whatever your rehab budget is multiply it by at least 1.5 because even when you double check your numbers, unexpected things happen that can cost an extra 500 or 1,000 here and there and it adds up.

This guy said he had learned his lesson, and would do what it takes to pay off the debt...work 2-3 jobs, extra hours, sacrifice, or whatever he had to do, to pay off his obligation. 

What most people don't realize is that a good agent in any market should be able to near completely fill the gap between needing the things a turnkey company provides, but not having to pay them extra for it.New construction is a great option for some people, but it's largely going to depend on your long term goals.

However the cost to rehab the vacant portion of the upstairs, would require a few dollars in order to get the extra rent.To all the pros out there, does the income coming in currently with only the 6 units enough to cover the cost of the property and make this a good deal without the 7th unit?

Cash Out RefinancePros: Extra 5% mentioned above, somewhat more liquid, its 'mine' if the housing market does crash, keeping slight bit more leverage                    Cons: current inflation, 'higher' mortgage payment, closing costs each time cashing out. 

Being involved in real estate management has awarded me some extra space.

I'm planning on buying a rental when I have 80k in savings which could be soon.On a side note if I do lose my job, that might be the extra push I need to get into RE full time.