Potential First Property

[Garrett Grove]

I am interested in getting into owning rental homes.

I currently live in a rental at 1000$/mo. I have been renting for two years and continued to rent because I didnt know if I would be relocating for work. Its kind of a year by year situation.

Im at the point where I am sick of dumping 12,000 down the drain a year.

I have found a SFH rental property for $100k that will rent for 1200, and this area is probably only a 1 mo/yr vacancy rate on the conservative side.

I would live in the property for 1-2 years before renting it out, so that also absorbs some of the risk.

Its hard to analyze a property on the 2% rule, 50% theory+cash flow/door when I also know I will be making decent money in the first 1-2 years just in the fact I will be living in it.

Information on this area is that a standard SFH sells for $130k and rents for ~$1000, and the rental market is PACKED, so it takes a really good deal to meet the 2% rule.

Thoughts?