That's why we require clients to spend a couple days with us in Milwaukee up front, so we can get on the same page and determine an asset quality.Hint: the hood looks much better on a spreadsheet than up close in person.

Some were purchased specifically to be MTRs & others were conversions when it made sense.  

People always say there's no value but that's not for you to determine.

I’m considering amulti-family property in the 76104 zip code of Fort Worth, TX, and I’d love your feedback to help determine if this is a good deal.Property DetailsAsking Price: $169,999 (seller says it’s negotiable).Current Rental Income: $2,400/month (duplex is vacant).Configuration: Combination of duplex and triplex units.Some units are rented at below-market rates.The duplex and need rehab.Historical Income: Seller claims it previously brought in $5,000/month when fully occupied.ConditionBuilt in 1934, so it’s an older property.Some permits were recently pulled (e.g., plumbing, window replacements, and sheetrock repairs), but it still needs work to get the vacant units ready to rent.It’s located in a neighborhood with a higher crime rate but also near major highways and areas with rental demand (e.g., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.

This will give you a great starting point in determining rent for your underwriting! 

Our next big objective is to eliminate our housing expenses by purchasing a triplex or fourplex using my VA benefits.

I worked with a travel nurse who does shift work and 5 lenders said that they couldn’t finance her primary residence purchase and I ended up making it happen for her. 

It's calculated as the ratio of your total loan amount (loan amount for purchase + loan amount for your rehab) to your total costs (purchase price + rehab budget). 95% is a good target.Avoid application and other upfront/junk fees. 

There are other ways to determine rental amounts like researching in zillow and/or rentometer, which I typically reference.

I own a commercial unit, and I’m trying to determine a fair rental rate for the space.