This will basically limit what you're able to charge for rent for a new tenant.

From that deduct the deposit (so that they know they won't be getting that back). 

The new value is $82,000 and the cash-out refinancing is underway.

(see photos)There is a floor drain on the other side of the 2x6 wall(about 10 feet). so i would just need to tie it into this I am budgeting 20K for a brand new plumbing system for the whole house already since there is not anything in the house currently.The basement floor is already ripped out and down to dirt.

I recently read in a book that suggested I should open a dual checking and savings account, and take the security deposits from my future tenants and store them in the savings account, then use the checking to pay the mortgage or maintenance fees.

Flexibility for Future Moves: When I decided to move out later, I can continue renting both units, creating a consistent income stream even after transitioning to a new home.

If you know that something major will need replacement in the future, increase the monthly amount you are depositing into your reserve fund.

Your current setup doesn't really keep your business and personal assets/dealings separate.To do so, you'd need to transfer those properties to an LLC you own or create a new one for that purpose.If there is a lawsuit, I'd imagine that your name, as the owner,  would appear in the documents filled.Just my 2 cents, I am not an attorney, nor a CPA

Hello everyone, I am new to investing and I seeking some guidance/assistance.Can someone please help in pointing me in the right direction as far as what part of Detroit is a good area to invest in or stay away from?

So our new renters moved into one of our units on the first of July, since moving in, they have had a laundry list of items they are requesting to fix.