First rental opportunity!

[Eli Rollins]

Hello all! I've been living with my mother and she wants to sell her house soon but I convinced her to rent out the house to me after she moves out and I'm planning to lightly rehab the house and rent out the 3 rooms to collage kids since we live near TCU. The monthly payment would be $1,350 to my mom and I was thinking about renting out the rooms for 650 to 850 each which would come out to about 300 after vacancy, repairs, and, cap ex. Any thoughts?

[Amy Kendall]

Sounds like a great plan and you get to live rent free as well!  Just make sure to save all that money you would have spent on rent so you can work out a seller finance deal with your mom, or venture out and get yourself your own property.