I feel like I'm in my obsessive, Type A research spiral and need some guidance to focus/think outside the box.Thank you,Myles

Depending on the type of property and the market the 50% Rule is usually fairly close for expenses.How accurate is your ARV? 

Definitely typed that out too fast without thinking it through.  

If your goal is to hit some type of financial freedom number like $10,000 per month in passive income, then you will obviously want to sell and use a 1031 exchange to "trade up".

It looks like you will need a type B permit which I'm sure you know that takes time and its very costly, City will have to check zoning and some other regulations.I have an Airbnb and its getting very competitive .Feel free to reach out.Good luck!

We meet monthly, and have all types of people at the meet-ups.

I am totally new to doing work in these old houses, and so far everything I want to do or would want in my own house, I am being told is totally wrong for this type of house. 

There are exceptions as some Turnkey outfits are not bad, but there is a difference for sure.I have two out of state "Turnkey-type" investments (one an individually owned property, same for the other except in a self-directed IRA).

But does anyone have any experience with this type of property situation?

If anything I would live in one room and rent out the other two individually at around $500.Property Type : Single Family 3 bed 2 Bath.Property Price: $200,000Down Payment of 5% at $10,000Loan of $190,000 at 5% interest rate                         ExpensesTaxes $150ExpensesInsurance $ 115Electric $ 100Water $ 70Gas $ 50HOA $ 0Lawn $ 25Vacancy $ 100Repairs $ 50Capx $ 100Mortgage $ 1284.96Total Monthly Expenses $2,044.96                "Cash Flow" (Didn't know what to title this section)Out of pocket $744.96Tenants Rent : $1300       Cash on Cash Return (This is the main part I need help with)Down Payment $10,000Closing Cost $3,000Rehab Budget $7,000Total Investment : $20,000