You should be able to use departing residence income from the market rent when qualifying for a new primary purchase.

Purchase price: $175,000 Cash invested: $35,000Buyout property that needed significant upgrades to bring to rental market in 2022.

I'd be happy to visit about the market.  

Trying to get a split level (not a lot of sqft) on the market in the next three weeks and trying to decide on whether to open the wall between the dining and living room for a feel of openness or leave it as I have heard from two interior designers that the open concept is on the way out as we are more at home and liking our separate areas in the home.Pragmatically speaking the opening of the wall will be mostly a time drain with it being a load bearing wall and having to support the ceiling while rebuilding and all the drywalling necessary.

-Interest rate of 5% is much lower than market interest rates. 7-8%+-There are no capex reserve considerations included. 5% is a starting point.

@Jonathan LudizacaIt really depends on the market.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)

It requires no money upfront, so you will join thousands of others trying to do the same in your market.

I Can only realistically get $1600-$1700 a month renting my house based on the market.