I reasoned the $193,663 can be used as reserve for metering the property and other needed non-recurring replacements.

Lenders use any debts that appear on your credit report as well as an recurring withdrawals from your bank account.

A simple Google Doc that links to a drive full of Checklists and How To Videos can become your Business Procedure Doc that will enable a new member to take over tasks recurring tasks.

They have the applicant load up their deposit accounts and they give you their recurring and non-recurring deposit summary for the last month, 3 months, and year.

This was a recurring theme in many rust belt cities in the mid west that have seen population and real income decline for decades.Operating Expenses RiskUnanticipated increases in operating expenses result in a reduction in NOI.

Stabilizing the property includes repairing or replace all the issues you have seen correctly - always make sure they are just not putting a band aid to the problem to avoid recurring issues.

I'm looking at buying a house as an investment property in Rhode Island and wanted to know what would be common monthly recurring costs outside of (Mortgage, Property Taxes, and Insurance).

Note this is as of June, 2021.Assuming you have no other recurring monthly debts (e.g. car loans, revolving credit card debt), it's fair to take your yearly income and multiply by 4 for the total amount of house you can afford.

@Jeyo Punnakottil Ask for the EMD to be hold by a closing attorney or a title & escrow company. 1/ unfortunately that's a recurring problem in this industry, people spend a ton of money on advertising but don't pick up the phone when a lead calls in... it blow my mind every time I hear that. 2/ If she gets the full ask + a $5000 EMD why would she bother doing an open house? 

The name of the game in residential RE is to have stable recuring cash flows over long periods of time to provide cash flow and debt pay down.