My thinking immediately turned to researching local rental costs per square foot to determine income potential with triple the current square footage.

Courtesy of the video, criteria to consider include Deal Type, Management Plan, Business Plan, Financing, Asset Class, Ownership Structure, Property Class, Location, Purchase Price, Rehab Costs, Risk Target, and ROE Targets.

And cost is not coming down.

Hi all investor here with a sfh property in Oklahoma, I have been having ongoing plumbing issues almost every week with toilet clogs etc since last year, and recently they had to repair the sewer lines and had to excavate the backyard and living room floors costed me tens of thousands of dollars.

Can you give a cost breakdown?  

The short version is that you want a strong and diverse job market, low unemployment rates, a growing population, low vacancy rates and new development, affordability/cost of living, real estate laws and court system, good schools, and low crime.Check out the videos from Dave Meyers with BiggerPockets.

It’s smart that you’re looking into multifamily options, it can really help offset your living expenses while building long-term wealth.When analyzing deals, some key things to focus on are rental comps, vacancy rates, and property management costs.

This also leaves me with $3,750 stuck in the deal (not including financing and closing costs, which could easily add another $20,000).In total, if I had to include closing costs and financing costs, I’d have about $23,000 (if not more) tied up in the deal and lose close to $700/month before accounting for expenses.

Anything you do remote will come at a cost of operational inefficiencies and a higher cost of doing business.

$1,500-$1,600 is about the going rate for a 2/2 in most average areas of BR, but I can see where some neighborhoods would get more.Another thing to think about - if the property is sitting vacant right now and you have ready and willing (and qualified) tenants, then the opportunity cost of waiting an extra month or two is $1,550/month.