2 Unit Property Too Expensive ?

[Peter Hansen]

I planning to buy a property that is out of my monthly price range by about 1500 to 1700. I plan on buying the property with a VA loan but the issue is the what ifs...if I rent the home out for 1500 to 1700 I'll be perfect but what if the banks don't take into the account I'm renting one of the units out. How have you all corrected this situation? If it goes as planned and the unit gets rented I'll be getting great cash flow...but if not i could be making a terrible error for myself and family. Tips?

[Mike Wood]

@Peter Hansen You really have not given enough information to get any advise.  Not sure what your 'monthly price range' means, and I doubt other do either.

In any scenario, you will need reserves.  Some how to pay the mortgage if you have large repairs (roof, AC, furnace) or extended vacancies.  If you are going to fall behind on your mortgage if you miss one months rent, then you are making a big mistake.