@Kevin Wood: Fixed Asset Management module is included in the QuickBooks Accountant version where you can calculate the depreciation.

@Ritu MahajanBuild a solid local team, including contractors, property managers, and lenders experienced with BRRRR.

One approach that I have not seen included in the discussion is as you are still in the planning phase, you could change your approach and the facts to make it more favorable for your strategy.

@Marc Robinson some may be more adventurous than me but with septic and well I would walk awayI prefer TOH of course but with $300 lot rent and 19 occupied, utilities included in rent I would pay $400-450k for this

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

In that they will detail the scales they use, including at which level of renovation it's possible to get things "reset" so it is appraised as if it is a new built property.

He is currently a travel PT that makes $37k pre-taxed but after including all his stipends, his annual earnings are  closer to $95k-$97k.

I am getting to the point of wanting to back out due to the 27k combined Closing costs, not including down payment. seems like a I should look into finding a new loan officer.

However, does that include people who wouldn’t qualify?

I will be into it about $9,371 with closing and have a payment PITI including HOA of $1,205.