It’s gotten me seriously considering bringing an attorney in-house to handle evictions and other legal needs moving forward.I’m evaluating this from two angles:Cost Efficiency: With the expense as high as it is, having in-house counsel could potentially reduce costs over time.

For each property, I have a few accounts including a high interest earning savings account for reserves within the platform.

For the first few years, I would focus more on the experience you gain than the money you earn.

The mortgage payment is $1,000 on each house, so you earn $500 per house or $2,000 monthly.

And all of this happens during the contract period reducing purchasing risk.Great strategy especially when practiced just on the outskirts of a major metro area in a country setting(a weekend getaway property that can be marketed to city folk).  

Private funding from a relative may provide flexible terms and reduced financial risk, but formal agreements are necessary, and interest paid is deductible for you but taxable for them.Traditional investment property loans offer stability and tax benefits like deductible interest and property taxes but require larger down payments.

Personally, I'm not interested in owning anything that doesn't cash flow at least $500 per month because there's just too many things that can go wrong in REI and I want the properties to earn their keep both in appreciation and in cash flow.

I did have a corporate job with good earnings which is why the bank was willing to lend to me. 

Using a 1031 to upgrade to a two-family could help you reduce or eliminate the $1,000 out-of-pocket expense you’re paying now.Also, condos often come with HOA fees that limit cash flow, so be mindful of their impact.

After five years, I am willing to buy the other owner out or they could stay in and continue earning and enjoying the property.