I will also have to say if you have poor spending habits or in debt to work on those areas.

Couple things.. do you have fixed rate debt?

We've used the cash flow from this property to pay off the debt we accrued on renovations and have been able to invest in 5 other properties in CA.

If I were to rent out both units I would get roughly $3800-$4000 monthly.I owe just under $450k on the mortgage with 3.125% (this is my only debt) and the property is valued at $670-$720k and I purchased for $470k.I am considering a few things which I feel will set me up for success in the future with the lifestyle I wantOptions:1.

I am completely debt free with umbrella policy.

He owns several multifamily properties debt free, and is interested in purchasing several more.

Also, you have to go after the high producing agents where the $500 is a drop in the bucket and you don't have to turn into a debt collecting agency.All the perks you offer will bring agents, however you don't wan the agents that make one sale and you don't see them until next month.

If you have fixed debt on your property, but people can pay more because they have a higher income then nightly rates should rise or at least stay close to the same in theory.

With some help, you can develop your personal list of criteria and what you are comfortable with.As soon as you have developed this type of checklist you can often eliminate offers very quickly and then focus on the few that are truly candidates.

Now you just need to hold on to the properties forever and hope they don't eliminate like kind exchange.Flipping is a great way to make money, but buy and hold is a better way to store wealth and generate passive income.