So you can see that the more equity you have in a property generating it's own income stream the less cash flow the actual property produces.

Do you ever have any trouble coordinating the refi with the bank to land right after the 6mo?

Hi Andrew, you'll probably have trouble getting a hard money loan on your 1st investment.

Their process is fairly straightforward and we had no trouble working with them when a few of our investors wanted to invest in deals using their self directly IRAs.

Hey Dan, I'm having a little trouble duplicating your numbers on my end.

It may be easier to find a deal in a place with older and more distressed housing inventory ... this is a fine balance, though, because if the neighborhood is too distressed, then you may have trouble selling it after remodel.

@Patrick Hicks I have one condo in my portfolio and I ended up solving a similar problem by joining the board, unfortunately.I can't imagine why the Board would go through the trouble of a special assessment for an extra $150 per unit.  

At this point, I had grown to become the top producer for our company in Tennessee, beating out colleagues in more populous areas of the state such as Memphis and Nashville, so it seemed insane that I would leave my job for uncertainty and potentially no pay.  

The house is next door to another one that we own which is what made it appealing, but I'm starting to think it is more trouble than it's worth.

Yes school will bring debt but with a major like mechanical engineering, you will start off with a good salary plus engineering is always in high demand so you shouldn't have trouble finding that first job.I myself have a bachelors in electrical engineering and I'm currently working towards buying a multifamily house to "house hack".