A lot of people who played the 2-1 buydown game in 2022 are learning this the hard way right now as their rates are going fully-indexed and theyre not able to refi.

I would probably approach your tenant with this information and say, "If that is the way you want to play it, so be it... but be aware you are really screwing yourself if you go that way" and explain that situation to him.  

I hope that this “role play” makes sense for anyone else - the point is not to assume something that is not actually in the law, because it may show you acting in bad faith if properly spun by the other side, despite your reasonable desire to want to have evidence.

The attorney we use charges $800 for uncontested and $1,500 if contested. it's not wise to look for an inexpensive attorney when its hundreds of thousands of dollars at play.

It is a longer play, and you need to perform when they send you a deal.

Play around on Airdna or price labs to see what a private room would get per month, you can use this as a ballpark number to gage what you should rent for. 

We'll have to see how this plays out.

. ** (when i respond it is not just for the original poster but others that learn from lurking)Not only are they not typical results, the year the property was bought and the method used to purchase play a huge role.

Major value add play with outdated units.

I would look more at the build out of the short term play.