Originally Posted by PamWinterReturns

I owned a few double-and-triple decker houses before I got sick. All in good areas, all kept up and modernized. Insurance was a killer. Plumbers, electricians, central air guys, etc were a killer. I came out ahead but it wasn't easy.

Buy one house, rent it, pay the mortgage monthly, vet the tenants seriously and after a year of dealing with it, decide if another property is wise. A year of solid payments will go far with a bank for financing another house.

You could also flip a low-priced house. Find cheap but qualified workers, put up cheap curtains and cheap rugs (there are lots of warehouses and job lots stores) to make it look homey, and flip it for triple what you paid -- or more.

Buy a house near a college (I did) and rehab it into rooms for rent. Check zoning laws first. Turn the basement into a living room/party room, turn the living room into a study room & bedroom or two, add toilets/ shower stall, etc. It's an investment but near college it will pay off. Let them share utilities but pay for cable, phone and internet.

Make sure to get first and last months' rent, key deposit and, if needed, utilities deposit. No pets including snakes, mice and other creepy animals.

Buy a pay washer and dryer and charge what the laundromat does. Maybe a little more for the convenience.

All cooking in the kitchen ONLY. No room microwave, toaster, hot plate or anything that can cause a fire.

It's doable and though work at first, soon you'll be buying more property