Like I mentioned to Eliott, I'm very young and I can't get a loan.

(August 2022)
Single-family residence buy & hold investment.Current Value Estimate: $410,000

Purchase price: $345,000

Cash invested: $5,000

I do pretty decent for my age, and I live at home still, so I've been saving up a lot of money.

I overlooked where you mentioned that you paid cash for the property.

You start by mentioning your age... you'd need everything to go just right for the rest of your life to make, best case, $400 or less additional each month net cash flow. 

I will return to this situation in the end of this post, but first let me show you why the age of a person can be tricky when it comes to the IRS.

$540 is not unreasonable for a home of that size and the items you mention.

As mentioned before too, newer construction tends to sell at a premium too. 

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

I had mentioned in the past 1 of 2 things is going to happen:1.