I've been plugging numbers into the Google Spreadsheet, trying to figure out whether it would be worth it to buy a 2-family or 3-family vs. a single family fixer-upper in Boston (VHCOL, but we'd be buying through NACA: below-market interest rates and no PMI). Since these are all hypothetical mortgage/tax/rent/expense scenarios, I'm looking for some advice:
• What would be a ballpark monthly estimate for "real rental expenses" for an owner-occupied 2-fam (1 rental unit) and owner-occupied 3-fam (2 rental units)?
• What would be a ballpark monthly "rental depreciation expense" estimate?
• Does the "Time to FIRE?" calculation factor in that you'd continue rental income once the mortgage is paid off?
The thing is, whatever I'm doing with the numbers now, it seems to be coming out virtually a wash. Could that possibly be right? (If so, to hell with landlording...)
Thanks for any help you can provide!