Quote from @John Friendas: As a person with an average salary, I was wondering what the maximum amount of DSCR loans a lender would give out would look like?

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

The voucher is the most that Sec8 will pay for that person’s rent regardless of where they rent.  2) The second part of the Sec8 equation is the market rates for specific neighborhood’s and property types (SFR vs apartment, # bedrooms, # baths, utilities included vs paid by tenant, etc).

In high-cost markets like Chicago, that can be tough to meet.If you're looking at a duplex, the self-sufficiency test doesn’t apply, so you’d just need to qualify based on your personal income and the rental income your lender allows.If your current lender isn’t familiar with making FHA work in your situation, it might be worth getting a second opinion from someone experienced with FHA multi-unit financing.

You can find it through the MNREIA web site or email me if you have any troubles.Type @ and the first few letters of a person's name to link.

There are any number of Real Estate schools available to you, so choose the one that compliments your learning style, whether that be online or in person or a hybrid. 

I think I was having a hard time seeing the value of turnkey properties because of my personality style with regards to investing and wanting to trade up quickly.

I spent many years managing myself and personally collecting rent checks. 

It will be even harder as a young person with no life experience, and particularly no experience buying real estate. 

Any insights or personal experiences would be greatly appreciated!