I had read that you should look for a neighborhood where there have been at least 5% of the total homes in that given area sold in the past year.

Many have pulled out of insuring multifamily properties or only cover up to 4-unit buildings.While Allstate doesn’t have a unit cap, they do cap total coverage at $750K on a landlord policy—which is why I’m exploring options for supplemental coverage.The carrier raised my rate by ~86% on all three properties under this policy.

Quote from @Nick Fladager: Hey everyone, Totally new to this.

Simply means that you live in one side, and rent the other side to help (or totally) pay off your mortgage.

I have 3 rental properties (5 doors total) with M&M Property Pros.

Totally get that feeling.Wishing you the best on your journey.

I totally hear you on wanting confidence you're getting the *best* deal when there can be multiple that look good (this was actually the reason I built a tool that scans and analyzes every new property on the market so I knew I was getting the best of the best!).

Don't grill me too hard.I own three rental properties, one is my primary residence with an apartment (5 units total between 3 properties: 1 airbnb, 2 medium term healthcare leases, and 2 long-term rentals).

I signed a cancelation contract in February 2023 for the 5 properties I put deposits down, totaling $224,000 in April of 2022. 

Hey Joanne, you’re definitely onto something with room rentals.. it can be an excellent strategy for offsetting a hefty mortgage and, in some cases, bringing in higher total rent than a single lease.