Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

It usually starts with a thorough walkthrough of the property to list all repairs and improvements.  

Even in the nice locations, most top out around $2,800.Of course there is also your increased insurance, vacancy, repairs, CapEx, and the never mentioned reduced rent on the main house since having a stranger living in your backyard usually isn't appealing to most renters. 

I learned this the hard way personally and had to get mine repaired.

In Miami, i have my family and also have great opportunities to build a career there from my parents relationships.Now, im not sure if when i graduate, go to Miami where my family is and start from scratch or if i should stay here in boston and continue building relationships to be much ahead when i graduate.What do you guys think?

Looking forward to the journey ahead....

If if you're paying more on the LOC side, you still come out ahead.

Some lenders specifically cater to U.S. citizens abroad and have experience working with unconventional income documentation.It’s great that you’re already thinking ahead for your next property.

If a tenant has a clog and calls, we remind them of this clause and then go ahead and call our plumber, who fixes it and reports back.

Ahead of Manhatten, LA, San Francisco.