Hello everyone, I am new to BP and this is also my first post. I'm currently self educating and analyzing small multi family properties in Lakewood, OH. I also currently live there as a renter. My most likely path will be as an owner occupant with an FHA or 203k loan. I'm curious as to what others, who are invested in the area, are using as their numbers when analyzing a property. This will help me determine whether or not the difficulty I am having is related to my numbers/percentages, or if there is another reason that explains the trouble I'm having in finding a deal that works. Also, is it appropriate to search a property via parcel number on the county site, and use the listed market assessed value? I intend to manage myself for my first property, but include management in my budget. Any and all advice would be greatly appreciated! My numbers listed below:
3.5% down
Interest rate: 6% (includes pmi)
Closing costs: 7%
Property mgmt: 10%
Cap ex: 10%
Repairs: 10%
Vacancy: 10%
Taxes 3% (also referenced via county site)
Water/sewer: approx $600 annually
