You need to analyze market rents of similar product with and without and do the ROI calculations.

Since you're only 16 with limited income and capital, traditional lending methods are out of the question to acquire property. 

The single family rental product has to be tailored to long term tenancy or they are losers.The rest of my expenses are carefully underwritten and basically match my pro-forma. 

I recently acquired a decent size Flex Asset in the PHX market, we are in the last phase of leasing it up, and have quite a few requests from investors to get in on the deal. 

I own a couple investment properties, but both of them were purchased under my name (as opposed to an LLC) due to the simpler process of acquiring a loan.

If I had a lot of extra time on my hands and have proven my business savviness, I would take a portion of the $500k (maybe $100k to $150k) to acquire a multifamily with a 25% down loan and manage the property myself - this is sort of how I got started.

My goal with real estate is to acquire enough rental properties to replace my full-time income with passive income.  

Hi everyoneI currently have a newly acquired HELOC and planning to use part of it to invest on a note.

The rates aren't absolutely awful for a niche product like the one you're seeking. 

HomeStyle is a great renovation product.