5bd/2ba 2133 sqft house hacking analysis

[Jeremy Pearson]

Hello,

I am new to the BiggerPockets website, so I apologize if I violate any rules on my first try at a deal analysis. Please give me any and all suggestions/criticism you might have to help me learn. Currently I am just analyzing and not looking to buy yet, but I want to see how close you guys think I am in my analysis.

This is the deal I was looking at.

If I were to buy this deal, I would be house hacking it (I would be living in the master bedroom in the top unit.) All other aspects of this house could be potential income.

This is the scenario I came up with:

Renting the 2 other rooms up top at $500 at a room, upping the bottom separate rent to $1500, and renting out both the garage/shed units, I was estimating around $2675 total income.

I would ask the bottom tenants to pay their own Water/sewer/garbage and electric, while offering it included to the tenants renting out the bedrooms up top.

I estimated for a total of $15k in rehab costs since the property looks like it could use some TLC, assuming all the foundation/electric/plumbing are good.

I also planned on keeping the train going and using another loan to secure another property 1 year after an FHA loan on this one, thus opening up the top unit for full rent or another room to be added.

This is a screenshot of the calculation I made in excel.

Let me know what you guys think. I would love to know if you think I have grossly overestimated/underestimated things and any other thoughts you may have.