Likely will reduce to whatever market rent is on 1007 report, if the Section 8 income is higher than market.

i would love to buy a 3-4 unit that could both reduce my cost of living and cash flow. move out and redo the process a few times every year. 

Since you're considering renting out the condo in 3-5 years, refinancing could help reduce your payments later.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

If you have money for large down payment that can reduce the payment which lowers the income required to qualify. 

I want enough money coming in so the business can sustain itself when issues occur with maintenance or vacancy.If you wanted to do this with only 20% down ($46,000), which is all you need for a conventional loan, here is how the calculations change.Total mortgage + escrow $1,493.33 per month with cashflow reduced to $306.67 per month.I prefer to overestimate purchase price, interest rates, and homeowners’ insurance to be conservative.

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

Let’s break it down and explore how you might approach this idea, the challenges you could face, and ways to structure a deal that could work for both you and the landlord.Why the Landlord Might Be Open to SellingThey’ve moved out of state for health reasons and don’t have family nearby anymore, which might reduce their emotional attachment to the property.The idea of simplifying their life and pursuing something like sailing around the world suggests they could be open to letting go of the property if it helps them achieve their goals.With significant equity or potentially owning the property outright, selling could provide them with a substantial cash windfall to fund their future plans.However, their belongings on the property could signal hesitation to let go or simply a logistical barrier they haven’t addressed yet.

**As investors, you are closest to the consumer (home buyers/renters), so you tend to absorb costs and reduced profits from unexpected spikes in expenses that wholesalers or contractors pass on to you!

Due to recent building code changes, you can build a framed building up to 4 stories on a slab, which significantly reduces the overall cost of new construction.