@Michael Gutierrez, what are its holding expenses per month (and also repayments)?

You could use your equity (less selling expenses) to purchase investment properties.

You mentioned you’re at $0 monthly cash flow, is this after expenses such as capital expenses, vacancies, etc?

If you know what you are doing, you could make those numbers work, but you'll have to fund the repairs along the way, and hard money is expensive and terms are aggressive and typically don't work in your favor.

A lot of state laws say you can charge the rent until you find another renter, but you are allowed to charge a marketing fee up to a certain amount to cover expenses relating to getting it rented again. 

Here are my numbers:$62,500 mortgage $540/month for mortgage payment, taxes, and insurance ($6,480/yr)$675/rent ($7,425/yr at 90% occupancy)$80 cash flowMy overall goal is for retirement so I am happy with covering all expenses and not taking any money out for myself. 

Unless it is an expensive property often even the difference for 15 to 20 year notes is not that much. 

I recently purchased a duplex this past summer so I’m starting to learn on the fly along with the help of the podcasts.For many of the expenses you can estimate based on a percentage as found in the BP calculators.

Is the $3600 I just spent to fix a broken sewer pipe a repair to expense all this year or a capital outlay to be depreciated? 

Right now it is too expensive for us to start investing in NY.