Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Feel free to reach out for any specific questions!

Consider starting small by house hacking a single-family home, renting out rooms, or adding an ADU if possible.

I personally have no connections with anyone who is involved in this niche and I'm wondering how other people have started their journey.

Check out this rug.

This is a great way to get an affordable deal.

Start with BiggerPockets Ultimate Beginners Guide (free).

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

I have been out of the country and just seeing this today.

Your credit will only be hit once if the apps are all within a couple weeks, and this will give you the opportunity to make an apples to apples comparison.