That way you can use your current income to supplement your investing income and achieve your goals faster.

I agreed and stayed at home with my mom for another few years.That property basically set the backdrop for me to get experience as a landlord, learn how to deal with tenants, enable me to bank a nice chunk of change to buy my next investment.

In the above scenario the first payment of $316.19 would pay $245.42 Interest and  $70.77 PrincipalThe 144th payment would pay $187.93 Interest and $128.26 Principal As the loan gets paid lower the amount you owe in interest each month gets lower enabling more of your payment to go toward paying off the loan.

Building relationships with as many of the senior commercial loan officers at the community banks will enable you to tap into as many resources as you can. 

Hi All,I am looking for advice we are looking into investing some money into our first rental and at the same time are looking for a bigger house for ourselves.With this in mind we are considering keeping our current house and making this our first rental possibly in the future if we wanted to downsize we could return as we really like the neighborhood.Our objective is long term investment to supplement out 401k’s although likely along the way we will need a balance between cash generating property and appreciation driven.So FinancialsOriginal Purchase price $300K in 2014 (Estimated current value $330-340k)Deposit 20%/$60kInterest Rate 3.75%There is $200k left on the mortgage I am using a excel rental calculator and I am using the original purchase details without updating for the reduced mortgage or higher appraised value as that seems to complicate.Assumptions:Estimated Rent $2300 p/m (Based on zillow and comparables)Vacancy Rate 10%Property Taxes $8800Insurance $1200Maintenance/Repairs $2000Utilities $600(This was to include mowing services)Advertising $250Annual Expense inflation assumed at 2%Property appreciation assumed 3% (This might be conservative Ann arbor has been 4-5% for last 5 or so years)The property calculator gives me -2% return on cash but 16% return on investment.Based on this what advice would you give me or watch outs?

Pulling all the good sub2 stuff together into one place like that would enable all of those tough searches to be simplified into "just hit that sweet page with everything good".

Are there not laws in Ohio that protect a landlord and enable him/her to enforce rental leases?

I'm hoping that by registering as a finance company it will also enable me to register as a loan originator, but I have a lot of research to do!

As for my goals, I'd like to supplement and eventually replace my 'day job' income with passive income from real estate. 

The ultimate goal is to build a sizable rental portfolio to supplement my income and achieve FI by 35.