Forced to rent.

[Adam Dassie]

Hello, I am new to BP and have been reading posts for the past month.

I am currently active duty military and set to be relocated in the spring. I bought a house here and some things didn't go as planned. The military moved up my orders by 9 months and the other homes in the area sold in the past year for much lower than my home. The new buyers have since reno-ed the houses and are now renting them. Mine was a flip turn key property so with these new lower sales and the quicker relocation than I was expecting I would lose 15k just on sale price plus have to take a huge credit hit and lose my VA benefits. I don't want this to happen so I am currently refinancing my home so that if I must I can pay it all out of pocket. To prevent this I want to rent the home.

These are the details on the home:

$135675 - 30yr @ 3.125% (PI 581.20 and PITI 745)

Rent potential of $1200 - $1250/mo.

From my research I should generate a cash flow of about $100/mo. I know this isn't the greatest investment property, but it is what I have to work with. Honestly I will be happy as long as the house pays for itself. and doesn't negative cash flow. Or the tenant does not destroy the house.

My question is are my numbers and expectations realistic? Any advice, recommendations or pitfalls to avoid going forward would be greatly appreciated. Thank you all in advance!