I would slow down and think about your BUDGET, what you can get for $30k, and how you can increase your income.

I recommend you do this annually to adjust for utility increases and other variables.

These rules have increased risks by making it difficult to get rid of poor tenants that pay their rent.

My interest in entity transfers is the ability to forego a massive increase in the tax bill upon reassessment.

Also keep in mind as time goes on typically your yield will increase because of the rent growth. 

The shorter the prepayment term has an impact on increasing the rate.4.

A lot of lenders used to apply 35% for expenses, but in the last several years, the numbers for supplies, labor, utilities, taxes, etc… have increased significantly.Also take into account the age, occupancy and how has the property been maintained, this will affect the expenses too

Lots of opportunity to find mismanaged multis as well where the older mom and pop landlord has rents way below market and can come in and increase NOI just by getting units up to market rent and maybe doing some cosmetic rehabs as tenants move out.Value add multi is what I prefer and think works best here but that's with me being here boots on the ground and being more active with it.

The only additional thing that needs to happen is make sure appraiser makes note of why the value increase in as is vs previous purchase price.

I’m trying to familiarize myself with the area more thoroughly.it seems to have a stable increase in prices.Since I plan to live in the property initially, breaking even in the first year is my main goal. (5% down; PMI removed with renovation)However, I’m also wondering if it’s feasible to have some cash flow from such rentals, or if the risk of vacancy is high in this market.Any guidance or pointers from those experienced in this area would be greatly appreciated!