Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.

That's been decided by US federal financial agencies.  

I am wondering if I used some of the money I received from the sell to pay off my debt if that would be financially wise vs using it towards the purchase of my next place?

This involves assessing the investor’s financial situation, investment strategy, and the specific projects they wish to undertake.

I feel that any investment that makes financial sense according to your goals is a good place to start.

I would have to see minimum last 36mnths financials and would prefer 60.

Above all, a rental should become a rental because it makes financial sense as a rental, not because it just happens to be a house.

@Ben BergHere is the process of renting a property with a roommate, focusing on cash flow, financial arrangements, and renovations.

I have hired another company to handle all other aspects of my financial needs.