The calculators on here are amazing and a great start for new investors like us.Good Luck. 

Keep in mind many mom and pop landlords are very hands on.. and have to collect rent in person.. and as stated above it all depends on your location and tenant base.. like west coast tenants by and large you could automate them.. lower end C D tenants no way.

@Joe VilleneuveI’m in a business credit group and a lady in the group has went through the entire application process and was offered 70k with similar fees as above.

And a duplex and always be reconverted to a single family home so the changes are not permanent.

That house could easily be divided into a three bedroom one bathroom apartment unit and a second unit that is one bedroom one bathroom.

I know a great title company in NJ, and a few great lawyers please PM if you are interested.

We pay 1400 in mortgage and rent it out for 1700 (which is VERY low for the area and we will be charging $1900-2100 next year, we were just in a rush to rent this time around).This year we bought the house we live in and owe 250k and it's worth about 296,000.I am 30 years old, and a stay at home mom.

What worked for you, personally, not exaggerating and saying you started flat broke, but you were working a $100k job, like really start with nothing but persistence and a goal.

Way more questions.I also would like to know if you have reliable contractors and a handy man????

However, given that we’re both military and a couple other circumstances, we have a bit more capital than a typical young-20s couple to invest so are also looking to buy a multi family (ideally quad or tri-plex) property that we can do some light rehab on and start cash flowing.