I am a small, relatively inexperienced investor working with a much larger, established organization.

Referrals are by far the strongest way to grow, since trust is already established and one happy client can lead to several more. 

For evictions, courts usually focus on whether the tenant is behind on rent as defined in the lease, so charging a flat $100 for water can complicate things if you try to evict for nonpayment of utilities instead of rent.

There is already a tenant living in the house, renting it as a single-family residence for $1,160 per month, which includes $130 in utilities (excluding the sewer, which I would have to pay separately).

Other utilities are my responsibility.

I am utilizing the BP rental calculator for the first time.

A true 15% cash on cash return in today’s environment is tough in most established vacation markets, especially if you’re using leverage.

Placing property under an LLC establishes a distinct boundary between your personal and business assets.Tax/Cost: Owning the investment in your own name makes tax filing and compliance a lot simpler.

You can always just subdivide and add the major utilities, then sell the lots in increments.

Quick BackgroundMy spouse and I are 100% disabled veterans in Northern Virginia (close to major employment companies/contractors/tech hubs, Reston Town Center, Metro).We both work in tech, but my spouse will stop working soon(burnout).Goal is early retirement + passive income, not building a huge portfolio, which seems difficult in this HCOLAWe’re not handy, but spouse is considering leaving Tech and going to school full time for carpentry utilizing Post 911 benefitsHave around 150-200k in liquid capital We realize that when one spouse leaves tech, the ability to really pay down a mortgage will be greatly reducedCurrent Property (Owned Free & Clear)Estimated value from Zillow: ~$776,300 (does not include massive kitchen renovation)4 bed / 3 bathEstimated rent: ~$3,500/mo (without renovation included)Scenario 1 (Leaning this way)Use a VA loan to buy a smaller primary residence locally (0% down).