First Rental
After some time being here on BP and reading non-stop, I've made the decision to go with a rental approach vs a flippers approach. It took some time for me to decided that but until I really get my feet wet, I'm going to hold off on looking for a flip.
I'm at the point where I'm looking at numbers on rentals, mortgage payments, utilities, tax, insurance and rental income. What are some "specifics" I should consider. Is there any good formula for calculating my cash flow to justify if the house is worth it?
I'm currently looking at SFH and Duplex's.
Any information helps and I look forward to hearing from some experienced people!
Keep in mind, I'm 20 years old and I am fully aware that I have a lot to learn! With that being said I'm all ears and would love any input!