@Russell Brazil thank you sir that’s a very valid point and something I need to consider.

We appreciate the validation.  

But it sounds like you're buying more than one unit, in which case you should have gas and electric metered separately through your tenants account.

I do not see why you'd have to wait to refi your existing property, but purchasing another as owner occupant would likely be problematic unless you have some valid exception / circumstance as to why you cannot remain in the existing home for the required year.

Of course, sometimes there are valid reasons for a longer timeframe, such as seller or listing agent out of town, sick, etc.

@Marvin Lee I know one who operates in CA, but specializes in trusts that are valid across the country, are you looking for someone local? 

At that expense ratio, a 10 cap would impute a value of $350k, in the ballpark of my calc using GRM above.These would all need to be confirmed during due diligence, but assuming the above are all validated, I wouldn't pay more than $350k for this property. 

Originally posted by @Michaela G.:As

Everything except major tree removal.In addition to the sprayer, I would also buy a gas-powered lawnmower, a gas-powered string trimmer, a gas-powered good-sized woodchipper, and an electric chainsaw.

.- Lenders do not preapprove for loan amount, they preapprove for purchase price after validating that you have the necessary down payment, etc.