BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Biggerpockets has their rental calculator which is the main one I use to this day.

If the guests pay it, you don't have to factor that into your calculations. 

BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Instantly I can tell the hottest markets from the normal and cold ones, and separately determine which one's I am priced out of due to crazy high values.I'd suggest a similar value-based approach if you have the data to calculate on to identify a few markets to start looking for deals in, but remember this is still too broad of analysis to make a go/no-go decision on the projects you find.

You must calculate the risk as for that individual it may mean the world.

Then, once you have a new lease in place with a start date, calculate your lost rent - which will likely wipe out any security deposit funding he/she might get back.

Helocs must also be calculated in underwriting based on fully exhausted payment meaning even if you only use a portion during the next purchase they underwriter will hit you with the full payment for risk.Cash out on the other hand is a liquid reserve tax free and it only requires (1) mortgage/lien.