Then in autumn, decide where to live - if summer rental income too good to pass up, might be able to live in front during off season and then rent bungalow to Monmouth University student during off season, then move into bungalow during summer for summer rental of front again.

Or student rentals.

The bottom unit rents out for $750 and is super close to the university so it's very nice to rent to students.

Hi, my name is Richard and I am a college student in phoenix.

15% on $273k is a little under $41k a far cry from $50k  You’ll also owe 25% depreciation recapture on 7 years of depreciation.

Applicants either pass on their own merit based on your screening standards or are rejected, anything else is a reckless and unnecessary risk (except student rentals).

One being that I live Southern California where home prices are very high, and two, although I make a decent living as an early childhood special education teacher, my current debt with my mortgage, student loans, and car payment are too high to qualify for a bank loan for an investment property.Therefore, I am currently trying to address my debt, looking into wholesaling as a way to increase my income for investment purposes, and continuing to do as much research on how to start my life as a real estate investor.

Should I pay off student loans with my cash and save back up before I buy another property, refinance my home and payoff student loans and still buy a property?

@Jace Holti really want to stay in the married housing side. thay tend to stay longer and are better renters. but dealing with people renting on student loans seems like a house of cards when it comes to stability.

My wife and I bought a house in 2017, bought 2 newer cars (2014 & 2016), total debt with student loans and credit cards is around $315,000.