The property casflow around $130 monthly after property management, cap ex, maintenance, taxes, HOA.

Buy a turnkey vacation rental property right next door to my husband’s mom in FL at market value (no option to BRRRR). 8.5% cap rate if rented to long term tenant rather than as vacation rental. 4.

For sake of simplicity of calculation, assume 0% for renewal/backfill tenants.Lease term: 10 YearsStorage Income: $15,000/year with 3% annual increasesOperating Expenses: $8.00 PSF annually with 3% annual inflationCap Ex reserve: $0.15 PSF annuallyRoof replacement cost: Year 3: $200,000Sale assumptions:Hold period: 9 YearsTerminal Cap Rate: 10%Cost of Sale: 4%Questions:What is the property’s Current NOI?

I did not believe so but I could be wrong.If I am correct, the non VA loan LTV caps will make your plan very challenging. 

Can you share more details i.e. purchase price, rehab costs, rental rates, cap rate and your experience with property management?

How do you think about cap rates?

They would reimburse me for real estate taxes and property insurance with caps of $.74 per sq ft and $.25 per sq ft respectively.

I was able to locate the code from 2015 that does talk about specs of a rain cap: http://www.seattle.gov/documen...

Unless there was a complete reno, I would raise the cap ex and maint expenses.

After doing quick math you are capping your purchase price at around $580,000 for an SFR.