I'm finishing renovations on a studio apartment (under another unit in a multi-family) in the next few days and am trying to decide on what strategy to use to rent it.

DSCR loans are used to finance the property once you have tenants in the units.

Now, in 2024, we're seeing $4,000 per month just on the main unit and $1,800 on the other unit of the duplex.Long story short, it's a long term play.

The units were dirty, messy, etc. 

Hi all,  I'm scheduled to close on my first 3 family next month.  I'll take any and all advice any of you have, but the two things I'm looking for specifically are: what sites, services, and/or software you use and re...

I’m considering amulti-family property in the 76104 zip code of Fort Worth, TX, and I’d love your feedback to help determine if this is a good deal.Property DetailsAsking Price: $169,999 (seller says it’s negotiable).Current Rental Income: $2,400/month (duplex is vacant).Configuration: Combination of duplex and triplex units.Some units are rented at below-market rates.The duplex and need rehab.Historical Income: Seller claims it previously brought in $5,000/month when fully occupied.ConditionBuilt in 1934, so it’s an older property.Some permits were recently pulled (e.g., plumbing, window replacements, and sheetrock repairs), but it still needs work to get the vacant units ready to rent.It’s located in a neighborhood with a higher crime rate but also near major highways and areas with rental demand (e.g., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.

If other units at your price point have just hookups you will be fine with just hookups. 

Everywhere I look in that state, I just see gold.

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

Renovations are almost complete and will be looking to rent out a unit.