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Updated over 4 years ago,
No 3x rent income, but $100,000 from house sale.... Yeah or Nay?
I have interest in a property in Salt Lake City from a Medical student and her partner who is also a medical student. Rent is 1400 a month and she will be receiving $2000 a month for tuition/living expense, her partner makes $1600 a month at a paid job month from the U in which he is getting his doctorates. They just sold a home and will have around $100,000 from the sale. She may have to go out of state for her schooling but plan on coming back to Salt Lake City in between breaks. She may have to do distant learning for quite some time. When she has to eventually leave for medical school out of state, they were wanting another roommate to help with rent, but only if they find a quality one. Lots of red flags here, but she has money from sale of home. I am anxious of not finding another renter because of this corona virus and the stay at home schooling. I have NEVER had a problem renting this unit out, but maybe this time is different.