Based on the 1% rule, this doesn’t seem to make sense.However, the city and area we live in retain property value because of the schools, community, and location.

Quote from @Marc Shin: First, you should let us know what state/city you live in because the rules sometimes change, and we can't give you solid advice without knowing where this investment is.Generally, you can give them a 30-day notice.

First, it’s a rule of thumb, not a hard rule, and it works well for screening.

@Jhamari Hogan locality taxes are a little tricky as each locality has their own rules.

Wondering if anyone had some windows/rules of thumbs they use they would be willing to share. 

For no/low-cost seller leads, I'd also recommend FSBO via zillow or realtor.com.As far as commission structure, the post-NAR settlement rule is that you are only allowed to collect the amount negotiated on your buyer agreement.

@Austin TessTo buy your first multifamily property, follow these steps: get pre-approved for financing with an FHA Loan, identify a high rental demand market, choose between house hacking or pure rental strategy, analyze the property using the 1% rule, build a team, negotiate the purchase, and manage the property professionally.

Just keep a few things in mind: First, make sure the mortgage lender’s cool with the arrangement, as some have rules around subleasing or leasing to an LLC.

If so, if you are not familiar please familiarize yourself with FEMA 50% rule.

Nonpassive income: Real Estate Professionals, STRs and K1s from businesses where you have hands-on involvement aka material participation.Each group has its own rules, and generally they cannot offset one another.