@Kavya VeerapaneniThere is a market for short term rentals in Danbury.

Quote from @Sara Valentine: I have rented my personal home as a fully furnished/lots of amenities 3 month rental jan, feb, and march the past 3 years.

Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs). 

I did market analysis to find the right rental rate.

I’m considering offering the seller 85K, the realtor 12k and then put in around 35K to get both up and down units rent ready(might be able to do it cheaper, especially since it’s likely a rental).

Sad reality is I'll probably own a few rentals before ever moving out.

@Ashish Gambhir like most have said it will take some creativity or a lot of work to get a cashflow rental in the Triangle. 

Investors should:✔ Monitor Blackstone’s acquisitions – Are they buying more apartment buildings, warehouses, or single-family rentals?

Our rentals are on a Month-to-Month basis. 

Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)