I assumed a total loan of around $90k with a monthly payment of just under $1,600 using a random SF property in Indy with a similar asking price.

Last month, we were hearing that rental listings under $1250 were continuing to get movement, but anything higher was becoming stale on the rental market.

In US tax law, the depreciable lifespan of an asset is defined by its MACRS classification which stands for “Modified Accelerated Cost Recovery System.”Under MACRS, depreciable assets are assigned to different classes, with each class having a specific recovery period.

For this deal to work under those conditions, the purchase price would need to be closer to $179k.With your original assumptions 249k, the deal is marginally acceptable but not great, given the negative cash flow in the early years.

Originally posted by @Ryan Crowley:Hey everyone, I accomplished my goal of getting my first rental property under contract by the end of 2017 and I close on this property soon.

But when you’re intimate with the property, you know exactly what’s going on behind the walls, under the floors, and in the systems.For example, a seller might tell you, “This property has a ton of equity.”

Taxes : Taxes have been a brewing crisis nationwide for sometime, Chicago is another prime example of a major municipality struggling under high debt load.

I am under contract for a 3 family home w a very unique set up. 2- 1 bedroom apartments and 3 and 4th duplex which has 5 bedrooms but only 1 bathroom this home is 8 min from Brown University in RI and 10 min from Johnson Wales. (6miles)Do u think its close enough to attract college students especially the duplex? 

Do you have a 501c3 that you operate under (and rent the house from yourself), or do you purchase homes with an LLC or personal name, and run as a regular business? 

Karen I was under contract last month for a house that had tenants on a month to month lease since their original 1 year lease had expired.