New to RE and BP

[Treven May]

Name is Treven May and I'm from Wasilla, Alaska. I recently bought a fourplex in wasilla and I'm looking to gain a better understanding of the real estate world. I am no expert when it comes to real estate or investing but numbers and common sense comes easily. I do however have lots of experience with renovations and dealing with people. Currently I work on the north slope of Alaska in the oil field as a well support technician. I work a rotating shift of two weeks on and two weeks off 12-16 hours a day. I oversee different work groups at times and run big jobs to work over wells to produce more oil. So Alaska has a track record of a stable economy and stable housing market. The cost of living is high which results in a lot of people in anchorage and wasilla to rent. The downside is that there is not a lot of great deals as the united states and the prices are right at or near appraisal value. I'm closing on my fourplex in mid-late may and intend on owner occupying it with a FHA loan. Currently all four units are rented. I will be taking the top unit that has a renter that is a smoker. We did our inspection last week and everything came back 100% with the exception of a few small items. Numbers: 318,000 total loan (all closing paid by seller ($7000)) 3.875% interest rate Mortg insurance for life of loan ( will refi after 20% to conv) Rent is 800 for two renters, 850 for other two ( my new lease will be 850 across board and 5-6% increase yearly.) Unfortunately I have common entry so I pay gas (250 avg month) So after all principle, interest, taxes I make roughly 241 while occupying. I do however have to pay for gas so I break even until tax time. Both me and my wife are very happy to live rent free and since I work on a rotation I will be using a prop morg company to manage it while I'm away until she feels comfortable taking over. If she doesn't then o well. Again I'm not looking to become a guru or take over the world, I'm takin my investments one day at a time to create wealth not be rich ( for now). I now begin my path of browsing the archives of BP and would appreciate any "must see" links such as excel spreadsheets, formulas, guides, tips, etc.