Ex) If you're PITI payment is $400/mnth, you'll want a place that can be rented out for $800/mnth.I have limited experience from just one long RE venture, but I found each of these rules to be pretty true (despite the fact that - when I first heard them - I thought they were ludicrous and ridiculously conservative).Brian

Asking price is 232,000 (RIDICULOUS) I say that because the home needs TLC from top to bottom (a lot of cosmetic things).Refinish basementNew bathroom, new kitchen, update all floors throughout the house, landscapingThe owner does not live there, I believe he was relocated for his job.

I moved from Santa Clara about 2 years ago, and back then, average 3/2 apartments were running anywhere from $1800-3200, depending on amenities (I know, it's a big range, but CA housing prices run the gamut).If that's still the case, $1400 for lot rent may not be ridiculous, especially if the home is in good condition and in a nice park.That said, I don't know if the rates have changed one way or the other since then...

This past six months or so have seen ridiculously compressed cap rates across all commercial properties classes.  

What's even more ridiculous is that many lenders have no idea what they are even ASKING for!  

This inspection report is ridiculous  

Ridiculous.

This happens all the time, particularly with refinances where they don't have a target to hit (the price), and it's ridiculous and frustrating.  

So it was very easy.I know condos aren't typically looked upon as favorably, but in the ridiculous market that is Long Island, and going in with the intention to move in ourselves shortly thereafter.

The house was beautiful and could be bought at what seemed like a ridiculously low price.