Bay city mi 810 sq feet on crawl needs some roof TLC In a C area2 bed 1 bath COC return 30% Meets the 2% rule Rent is 500-500 fixed up a bitGood buy??

I know in my area of Philadelphia, there are certain towns where the r/e taxes are ridiculous and the 50% rule really turns into 25% rule!

for his service and sacrifice.Less stress and work is a good ruler. 

I really doubt it's stayed on the market for a year with only 15k in rehab and then a potential 1% rule rent out.

The 1% rule really doesn't apply to this market, especially right now.

How stringent is this rule, really, and what documentation might the IRS require for me to prove that I lived there for exactly 2 of the last 5 years (versus for 23 of the last 60 months)? 

It can be an "OK" decision if it is single family, under 95k in cost, near the 1% rule, rent ready, and grab a warranty while you're at it.

I have done a lot of back of envelope calculations on houses in my area (we have essentially no multi-family units, and I could not afford them anyway) and none of them are going to be close to meeting the 1% rule renting them out, or even close to break even in a house hack scenario.What I am seeing is even with 20% down payment, mortgage+taxes+insurance runs ~$2500 monthly with rent on comparable properties being about the same, this being for a 3 bed/2 bath home.

This is not legal advice, just friendly information.As a general rule, real estate holding LLCs should be created in the same state as the property.

This is not legal advice, just friendly information.As a general rule, real estate holding LLCs should be created in the same state as the property.