The general rule of thumb that I provide is that you want the median household income level to be above 38 K in the Midwest and above 40K in the rest of the u.s. numbers below this, cause tremendous churn, which will spike your repairs and maintenance cost and kill your profits.

Originally posted by @Jim K.

@Jim K.

Originally posted by @Matt K.

@Matt K.

They want $164 K for it.

@Jim K.

@Mark H.A 401(k) is an employer sponsored plan. 

However, the guaranteed income portion will be required to be reported on his K-1 issued to him.

If you’re going to do this at all approach it from a rental point of view,  and frankly for an 850 K price tag  altogether  this does not sound like a good rental investment property.