Hi! I have been obsessing over getting started in owning and managing a duplex or triplex to build passive cash flow to a point where I have lost many nights of sleep. I really want to start in my own backyard so I can closely manage it after work or on the weekends. As many of you may know, anything within 30-50mi radius of San Francisco Bay Area is expensive, so I have been trying (without luck) to see how exactly owners in the area could produce positive cash flow.
Could any experienced owners around the area give me some pointers? What's a good operating expense for an average duplex or triplex in the area. My main problem is that I want to do it with FHA but the mortgage is around $4000+ a month with a low 3.5% down payment. With a $4000 mortgage, I just couldn't work out the breakeven rent.
PS I'm also looking for a mentor in the area who could give me pointers from time to time or maybe get me somewhat involved in their deals or operations.
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