Feel free to tag me and ask anything additional here if you think it would help others too. 

We have always thought about creating additional income/wealth together, the time is now and we believe real estate investment could be the path to our goal!

In an attempt to work with the guy (since he had been there for a few years prior)  when he said he needed until the end of this month to get a place for him and his dogs (while threatening to make moving out a pain for all of us if we didn't let him hang until then) it seemed like the easiest thing would be to just have him for an additional month and then have him out after this month. 

The other option would be building an addition on our existing home, and turn the one bedroom rental into a two bedroom, perhaps making it an Airbnb rental. 

These are professionals with additional training and a stricter code of ethics.

Any feedback will be great.3 plex:Location is in Port Orange, Floridaits a single family 2/1 with a duplex in the back that has a 1/1 and a efficiency unit. 2/1: $8501/1: $600Eff: $435Total= $1,885/ month Income $22,620/ year (assuming everything runs smooth) List price is $169,000 but may be some wiggle room for about $155-160k.Expenses are claiming 25% annuallyInsurance= $1,500Water= $2,400Tax= $1700total= $5,600However thats not even including management, maintenance & repairs, or cap ex.

Any feedback will be great.3 plex:Location is in Port Orange, Floridaits a single family 2/1 with a duplex in the back that has a 1/1 and a efficiency unit. 2/1: $8501/1: $600Eff: $435Total= $1,885/ month Income $22,620/ year (assuming everything runs smooth) List price is $169,000 but may be some wiggle room for about $155-160k.Expenses are claiming 25% annuallyInsurance= $1,500Water= $2,400Tax= $1700total= $5,600However thats not even including management, maintenance & repairs, or cap ex.

I do recommend to use inspection, especially since I am abroad investor.In addition, the inspection report help me to make sure the contractor quote covered all major issues, and I also use the inspector to visit during the rehab to make sure the contractor finished each construction stage.Investing ~$250 in inspection in compare to the money you invest in buying and rehabbing is not major and reduce your risk.Good luck.

In addition - cities within Ohio have their own city taxes.

Hiring a PM at this level isn't too efficient, but it allows you to set a standard of what to expect from your PM (if you decide to get one in the future to manage your large portfolio;) 2) Great for learning the rehab.