Can your property afford a mortgage of $270k?

They are hard to find, but they do exist.

My mortgage will be $2,005/month, and I’m budgeting up to $600/month for utilities, leaving a potential monthly cash flow of $995.I also set up an LLC and a business account to track rental income and expenses.Questions:Do you have any advice for me as a young real estate investor?

Quote from @Gene Jung: Hi,Assume there is no cost for mortgage requesting for my lender.

As both an investor and a mortgage broker who has personally used both options, I can say there are benefits to each.It ultimately comes down to comparing the two side by side based on your specific situation.

I’m approved for a mortgage and want to house hack but doesn’t feel like the opportunity is there at the moment, but I also know that’s a limiting belief.

Of course there is upside to this as I can charge more rent but the property being vacant for two months also is it going to cost me around $1200 in mortgage payments as well.Another unit of mine unexpectedly went vacant beginning of the New Year.

Jimmy,You need to show (2) years of 1099 SE income in order to use FHA, or traditional financing to get approved for a mortgage.

Set the second thermostat to whatever you consider the minimum temp to be - I would use 55º - and electrically parallel the existing and the hidden thermostat.

An article from The Mortgage Reports explains:“The amount you need to put down will depend on a variety of factors, including the loan type and your financial goals.