Also, I have about $8k in cash and no debt at all! 

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provides support for the property tax appeals process.Additionally, it can help maximize renovations and improvements.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

Add in that money goes out many months before any generated income, the worse financing options versus purchase financing, the detraction of something (even if it is just yard space) from the primary unit, the work involved even hands off is at least as high as a BRRRR but a brrrr can provide an infinite return. 

It's a strong cash flow market.

If you are evicting on the basis of personal occupancy, you need to provide two months notice.

Purchase price: $580,000 Cash invested: $75,000 Townhome in the highly desierd Rosemont area.

What's your goal - cash flow or appreciation?

As for renting, going cash flow negative isn't great, and your home isn't likely to appreciate as fast as it would if it was a single family home, so holding with hopes of increasing appreciation may be a verrrry slow play, but if you can afford to hold, having a tenant pay down your mortgage is an additional great benefit to real estate investing. 

Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio.

We moved out in July 2024 and is now cash flowing $700/month with both units rented!