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In 2001, Colacioppo finally found his investment property and made a private offer of $315,000 on a fifty-year-old two family dwelling and closed in June of 2002. The property has one bedroom on the first floor measuring 600-square foot. An additional 1,000-square-foot, two-bedroom unit on the second floor, and the house is routinely occupied. After paying the mortgage, insurance and taxes, Colacioppo profits an average of $475 monthly if unexpected expenses do not occur. He applies most of his profits to improve his current residence or saves it to invest in other future properties. At times, Colacioppo decides to make his own improvements or repairs, which saves him money on maintenance expenses...
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