@Charles EvansFrom my experience, having rental income of $1,400 to offset a $2,600 mortgage, leaving you with a $1,200 payment, is a manageable setup with an income-to-mortgage ratio of 28.5%.

The projected rental income wouldn't cover the mortgage and HOA at this time.

My strategy is to hold it long-term, leveraging the steady rental income while benefiting from potential appreciation.

Are you looking to flip so you can make income today?

Do you have W-2 Income, 20% down, reserves, and a decent credit score?

If the local market is healthy and rental income will be adequately managed by a property manager, then a long term residence could be used to build equity.

Quote from @Kevin Robert Highgate: The ability to invest in property and replace your W2 income quickly is tough.

Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)

My bookkeeping practice pays me active income, so my priority is equity.For debt loans, you will see 10-15% annualized, depending on your experience as an operator.

We’re looking to install a property management firm within the organization as a way to generate steady income and keep operations running.