When purchasing a Duplex, there is an option for the top unit to be rented out OR for it to be vacant prior to your purchase, which do you prefer?

Looking to purchase a home property from a family friend to be turned into a long term rental property. 

Purchase price: $121,000 Cash invested: $15,000 My first home purchase turned LTR.

@James Huff Congrats on your first multi-unit purchase!

@Javier Esquivel holding or selling would depend on what the property would rent for, what type of debt can be placed on the property and at what cost..Let's look at the numbers.value $117K75% ARV $87,500(Assuming this is lenders LTVRepairs $35Kall in after purchase is $68K(Depending on closing costs etc...)If the property would rent for a minimum $1400 I would hold as the property will cash flow and I would have the ability to take out all of my initial investment after lenders seasoning period.Delay finance at $75K @ 6% 30Yr Am P/I($500)\cash flow $200 per month at 50% expense ratioyou'll have $0 money into the deal with cash flow and around $42K in equity.This would be a no brainer hold for me.All the best!

Quote from @Teresa Jellison: My husband and I are planning to purchase our first property within the next three months. 

Is it common to purchase a home with other debt?

Hi all,  What is your feedback using a HELOC of a primary residence to purchase rental properties?

Hi,I'm in central Massachusetts, and often come upon properties I want to purchase that have failed septic systems.

Also, should I be tracking all these hours for the STR active management 100 hours or does that only apply after purchasing the first property?