Quote from @Brad Roche: The other thing that is great for the FHA 203K loan (not sure about the Homestyle loan) is that you can kick the payments out to 6 months of ownership (so close today and make your first payment July 12th 2025) if you are fixing up the home.

Quote from @Nithin Kumar: New to Phoenix and hearing a lot of places for rental investments but trying to figure out from the pro's around to find what are the areas that can break-even on a monthly basis and the areas that can show appreciation in the nearer term. planning to put down payment of 30% (~100k) Hi Nithin, I live in North Phoenix myself and would recommend anything around the Paradise Valley Mall area.

Mortgage payment is approx $1800.

I usually end up with a list of buyers with down payments but I don't have any more inventory for lack of inventory (capital).

I have a large lump sum saved in an investment account for down-payment and any additional costs.

Or a seller finance calculator showing the monthly payment based on negotiated price, interest rate, down payment, etc.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

We've done demos with all of the big name PMS options and are finding big gaps with all of them, mostly when it comes to payment processing.

However, with a SFH you will lower your standards when vacancy arises more than one month as you have no income coming in to male that payment.  

However if you have enough reserves, 6mo or greater then I'd say chance it but a couple of missed payments from the tenants and you have to foot the payments out of your own pocket.I'm all for taking risks but I think you really need to evaluate the age of the major systems so you don't get hit with a bunch of cap ex all at once as well as your reserves.