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So after living in my townhouse for 4 years (at least 3 years was required by the First Time Homebuyer Tax Credit), I was moving out. I got married in May, and after the honeymoon it was time to move into our new house.

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I had a gone through a couple promotions at work, and was now working in Capital Improvements at the Housing Authority. One of my work assignments had been renovating and then helping lease out a handful of townhomes. I learned SO MUCH that I was able to turn around and immediately apply to setting up my LLC and listing my rental.
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After 4 years, my carpet was shot. So I got my first experience laying floors with some @pergofloors laminate that my husband Matt and I installed. I also had some new carpet put in upstairs from @loweshomeimprovement and refreshed the interior paint.
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So with my 3.5% downpayment on my FHA loan of $3321 + $1900 in renovation costs = $5221 spent. (I don't really count my costs while living there because I had to live somewhere plus I didn't keep track of it back then 🤷‍♀️) With my $8,000 tax credit I was already at $2,779 profit before I even rented it out. This home has never provided great cashflow, but I could never sell it because I am just too sentimental.
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In 2014 I rented it for $825/month for a 2 BR 1.5 bath. My payment on my loan at 5% with MIP was $659.94 plus HOA dues of $71.50. So I made a profit of $93.56/month with $0 invested. In 2018 the MIP finally dropped off when I reached 78% LTV and this year I celebrated my TEN YEAR ANNIVERSARY as a homeowner! (1/3 of the way through that loan!) It's currently rented for $875.