Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

I'm of the opinion that a property that cannot create $15-20k+ per year in rental revenue is going to struggle keeping up with maintenance and repairs.

Stocks don't give you this.The tax code's most beneficial deductions are geared for taxpayers who create jobs (owning a business) or who house others (rental properties).

Please let me know if you need more info to create a clearer picture.Thank you.That is actually a good question to get advice from a local estate attorney on.

This has created a "shared driveway" with the neighbor making an ugly curb appeal, not to mention cutting their lot in half.

Same principles apply - being busy will create opportunity. 

They make you feel special by creating false hurdles for that next "admissions" call.

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

I completely agree that personal interaction can go a long way in building rapport with guests, especially when you're trying to create a memorable experience.

The rest of 2024 and early 2025 will likely reveal more about how different segments of the market adapt to these unique conditions.