Majority of people in the US today dont use a formal dining room for much else than once or twice a year meals, or fancy furniture storage.Convert it into a nice office space, it will sell the house more quickly.The average american family has 2.2-2.5 kids, so its a family of 4ish.

Hello BP Community,Does anyone know what the average cap rate for multifamily deals are in Southern Alabama?

However, I would still recommend getting quotes from other Lenders, rather than being lured by one company's glossy marketing.I suspect your average net income from this property will be closer to $500/m than it will be to $1000/m.

I'm hoping that's not the case and even an average Joe can make money off of real estate.

But I concede I am pretty much a tightwad.3) Their average turnover.

The opening bids averaged @800.00, but quickly rises to 2k.

It is much harder to make business decisions when you know the person it affects.Finally, the home appraised at $250,000 even though we had several offers at our asking price, not to mention the upgrades that were above and beyond the average home in the area.

Of these, I see the average win bid about 65-70% of ARV but many times up to 100% of ARV.  

I would urge you to take a look at the online calulators both here at BP, and I also like the one at http://www.dinkytown.com/java/InvestmentProperty.h... ... it looks at things in slightly different terms than the one here at BP - in particular I like to look at what the "average rate of return over the life span" is (I look at it over the years of the loan). 

I looked up how much credit you need to get a FHA loan and average is 580.