lol "income machine you set and forget"....Yeah until the toilet leaks and they call for repair. I just had to replumb my entire rental just a few months back. It's not cheap. If I were to do it over, I would buy a duplex first. Live in one side and rent the other half out. Their rent basically pays the mortgage so you can make double payments right from the start. Then save for down payment on next house. With a paid off duplex the rent pays for your entire new mortgage and more. I have 3 places right now and sometimes I'm constantly fixing stuff. So if you are pretty handy repairs will be less expensive.
lol "income machine you set and forget"....Yeah until the toilet leaks and they call for repair. I just had to replumb my entire rental just a few months back. It's not cheap.
If I were to do it over, I would buy a duplex first. Live in one side and rent the other half out. Their rent basically pays the mortgage so you can make double payments right from the start. Then save for down payment on next house. With a paid off duplex the rent pays for your entire new mortgage and more. I have 3 places right now and sometimes I'm constantly fixing stuff. So if you are pretty handy repairs will be less expensive.
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