(I would not specify how much.)If the property needs a ton of repairs, then even buying it subject to the existing mortgage may not be enough to make this a viable deal.You need more info, and fast!

Perhaps refinish existing wood floors rather than install new LVP to save money.

Mainstream homeowner policies won't cover sober living because they don't account for the risk of multiple people recovering in the same home

If we wait and buy in 26 she would move in and let others rent with her and hopefully cover the mortgage. rent is super expensive there!.

Lenders typically look at the rental income of the property to determine if it covers the loan payments.

When investing in real estate, having multiple exit strategies is key.For a single investment property, make sure the numbers work for both scenarios: 1️) If you decide to sell the home, the deal should produce a solid return. 2️) If you need to rent it out, the rental income should cover expenses and provide a profit.Flexibility is what saves you when things don’t turn out as planned.

Some numbers below for reference: I currently am taking home about 140,000 pre-tax.

With that said, here are some questions I would ask myself about the situation: Historically, have the students paid enough in the 9 months to cover all the expenses associated with these properties?

You'll only be able to cash out a certain percentage of that existing equity.

Our newspaper noted they had invested over $1b in the area, but I think that covered 2 mega sites.