Step 2: Narrow down your "buy box" (are you market-indifferent, are you looking for a certain level of cash flow, etc.).Step 3: Connect with real estate agents and begin making offers!

I realizing the duplex conversion strategy is more complex I probably wouldn't try it on my first property, just want to get a sense of what's possible in the Chattanooga market :) Thanks!

Thankfully we are commercial bank clients so our rates are as low as you can get in the market place for anyone who is not Lennar or DR horton or those types.

However, they approach financial health from different angles.The 50% Rule is a quick estimate that suggests operating expenses (excluding mortgage principal and interest) will roughly equal 50% of the property's gross income.The DSCR is a more precise calculation (Net Operating Income / Total Debt Service) that determines if a property generates enough income to cover its debt obligations.Deal example:- Class C middle class neighborhood- 4bd / 2ba single family house- ARV: 190k- Purchase: 105k- Rehab: 35k- Market rent: $1,400-1,525- Section 8: $1,475- Property manager: 10%- Taxes: 125 month- Insurance $1250 yr- HOA: $55 month- purchased and rehabbed with all cash.

The more effort you put in to make your home stand out in a (maybe) already congested market, the higher the chances are that someone books your furnished rentals over others.

We bought a 55-unit last year in the same market, a market we've been investing in for seven years.How we found itOur property manager brought us this opportunity (and the three previous as well).

What does it look like cash on cash return for market rent? 

In many markets section 8 is higher than market rate. and investors need that extra return to mitigate the risk of sec 8 tenants generally speaking.

Chicago, with its vibrant neighborhoods and strong rental market, is a prime location for this strategy.

Unless you make the theme of the house around that famous person, I dont think consumers will pay a market premium on ADR to stay.