To be clear, I’m not against financing, but since I don’t know too much about what I’m doing I feel like it’d be easier to own a property outright and get some experience with landlording to determine how much financing I’d be comfortable with after maybe a year’s worth of rental income.

I have typically seen in my own portfolio that tenants will put in a few maintenance request early on, and eventually settle in causing a few unexpected invoices.

Take Home Pay:  Approx $105K/YearMoving to Colorado in the next 6-9 months Living with a friend for extreme discounted rate Own two homes, one in Colorado cash flows around $250 , one in Florida (property of topic) [Mortgage$3200 HOA $440]

Here’s what you should know on Schedule E:Depreciation (Line 18) – can be added BACKCasualty Loss/Amortization/One-Time Expenses/HOA Dues (line 19) – can be added BACKInsurance (line 9) – Added BackMortgage Interest (Line 12) – Added BackTaxes (Line 16) – Added BackAnd this is why owning property is such a great method of building wealth.

You're doing your own labor, thus your going off material-only costs.

I personally own 1 on Margaret Rd.

@Amery CastanedaI own a property management company in the Rio Grande Valley and can assist with any PM needs you might have.

Generally speaking a commercial property/loan ( or anything owned by an LLC ) through a bank is going to require at least 20% down. 

Now, since they own the LLC, they also own the contract, you are now out of the loop and they are responsible to close.

In Massachusetts, the main MLS is not owned by any Realtor board.