I'd look at properties in Portland, Maine, which is also a mature and expensive market like Boston, and wondered why people would buy at such a low cap rate.

page=LoadVirtualDoc&BookmarkID=6536) that capped annual increases to the Taxable Value of a property to the lower of 5% or Michigan's Cost of Living increase.

It's just not that hard of a job to do with a system in place and frankly it's too expensive in our opinion.

I’m looking for a cash out refi for higher than 80% LTV due to the expenses that I’ve already put into rehabbing the property.

Having a long-term rental while living abroad is do-able.Flipping houses while abroad, in my opinion, more difficult, especially if its your first go around with real estate.I would recommend taking a flight and staying in the area for a week and inspect the neighborhoods and make connections.You can reach out to @Elenis Camargo who has a PM company in Jacksonville.Best of luck though.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

When we lived there up until last year, 1-2x a year there would be a clog that would cause a backup of sewage in the downstairs tub and toilet.

I don't do this for a living and have no real world experience, but at 40% down, even with a 7% int rate, that seems like a high monthly payment.

I lived there for 10 years.

Hello all,I just closed on my primary residence with an FHA loan so I am not able to house hack since I am obligated to live in the residence for a year.