He is currently into a 3 months out of a yearly lease.Upon moving in, he has not been able to pay the once month on time.

Sorry, have not been on in a while - I did not attend the event and currently have decided not to pursue RAL and focus on our single family and multifamily properties.

I am currently in the Carolina Beach/Wilmington area.

Buyers usually want to purchase on today’s value while sellers often want to use future potential of the property (“current rents are below market” or “room to build an additional property”, etc) to increase the purchase price or likelihood of a sale.

Does anyone have a "program" or formula to use to establish a reasonable list price based on current income and expenses.

Looking at 50% LTV currently.

We both live in MI and my current plan is to invest in single- and multi-family in solid, path-of-progress neighborhoods in metro Detroit, and also get some larger SFH's in the more expensive market where we live and do rent-by-the-room/co-living.

Posted this on the Multifamily section, but realized after I should post it here.I am a current Senior at the  Catholic University of America playing Baseball and finishing up my accounting degree.

If you do have enough other income then you dont even need to lease out this property to start your refinance.However if you dont have enough income to qualify with no rental income offset then yes you will need to obtain your lease(s) and security deposit + 1st months rents deposited before you can utilize 75% of this gross income - your monthly PITIA payment (in terms of qualification on this property refinance.So all in all Id make sure what your current debt to income position is first of all (DTI) and then strategize to see if you even need the leases at all.

Check it out.I am currently licensing a 12 bed RCFE in Santa Cruz, CA.