Your ideal rental will tend to be the more bare bones starter house without the granite and cherry.

I know just enough to be dangerous on LO so bare with me.

When you're qualifying the T/B are you looking for better quality T/B than normal tenants for a rental?

It will barely cash flow and I am okay with that.I am more concerned with the competitiveness of the financing I am being offered.Thoughts?

i've already cut down costs on the property to a bare minimum.

Ultimately, I just want to get my feet wet doing almost anything as I can not afford/bare standing on the sidelines any longer.

However, this levering wouldn't make any economic sense for you if the true net return (cap rate) barely exceeded the borrowing rate.

Brian it just depends on the tenants.I do small increases but not too large.If the tenant has lived their awhile I have to weigh going up 20 bucks a month for 240 extra a year versus them moving,losing a months worth of rent (840) and then putting about 1,000 or more in new carpet paint and repairs.So at 240 extra a year it would take me about 9 years to recoup that money on the unit.It also depends on if you plan holding it that long or not.In my area tenants are barely getting by and lay-offs are happening every month to some.I think right now at least for my area isn't the time to push rent increases strong.I know what you are saying about landlords not increasing the rent for years and years.Some just want full and not deal with the headache anymore.They would rather have full and paying than charge higher rates and have more turnover and struggling from the tenants and more accounting to keep up with at multiple payments per month to pay the total rent.I believe as long as you are close to market rent but under by just a little you are not losing that much.It also depends on how cheap you bought the property.Some buy really cheap and cash flow like a monster because they purchased so low even though below market rents.

This may get a little complicated so bare with me, the seller filed for bankruptcy last year.

.: No older than ten (10) years2) Equity: $30K bare minimum.3) Very little to no rehab4) Must be priced to sell at the tax roll value and no higher.My question is this:"Does this sound a bit unrealistic?"