DIY has its advantages.Does Whitesboro not require permitting yet?

Note that if your property is in a flood plain, banks will require flood insurance during the entire term of any loan on the property, which can be pricey.

The tankless models will often require some keyboard attendant (that was me) to run interference and get stuff going again.

@Yang Zeng Welcome to the Bigger Pockets.As you can see in my profile, my business and hub is in San Diego, not far from you, but all our investments for myself and my clients are in well performing markets in the Midwest.We specially in this out-of-state- approach that really requires more than just the properties.I agree that you should keep a reserve and not spend all your funds but I could help you with 6 properties that would pay you about $5K/ month in cash flow or $60K/year based on your available funds while having about $100K reserve.I like to help you see the performance difference between our area in CA and the Midwest.

Guests, just like those at your personal residence, require all sorts of amenities we don't often think of beyond the heating, cooling, water, waste, electricity and internet that hosts are responsible for.

STL CTY has a occupancy inspection requirement.

@Harjot Khangura @Eamonn McElroyIf he files jointly with his wife and his wife does the 750 hours/year required for the Real Estate Professional tax status that would be legal and the unlimited depreciation defensible, right?

Just FYI - If you have a substantial renovation to a 3 family, you will be required to add a fire sprinkler system in Massachusetts.

Just putting in a glass block window will still require some finish work where you pull off the moldings. 

Depending on your personal finances, shopping for a triplex or quadplex may require the existing market rents to pass a self sufficiency test, to ensure that you will be able to pay the note.