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Updated over 3 years ago,
Potential rental purchase, do these numbers check out?
Offer - $110,000
2 bedroom, 1 bath, 800 sq feet house with fenced yard
Mortgage payment - $400 a month
Insurance and taxes - $100 a month
I think it could rent for $900 a month
Doesn’t meet 1% rule and after the 50% rule I only have $50 cash flow… does anyone think it’s worth the risk?