If the market rents do not cover the mortgage, you may do a no ratio DSCR for a higher rate/reduced LTV  Which most likely the 1007 will be nowhere near the revenue generated by a PadSplit operation.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

I am learning a lot about the business that, had I not gone through this process, I wouldn’t have learned nearly as much.

I'd target areas near colleges or transit hubs for affordable properties, and I’d look into financing options like FHA loans or creative financing to make the most of my capital.

I’ve been around real estate for decades, and I read in The Economist once that in lively markets like Charlotte, folks will pay a premium for a comfortable room if you’re near major employers.A friend of mine tried something similar out in Austin a while back.. he’d inherited a 4-bedroom property and split it into individual room rentals.

But most homes around her are near $200k rehabbed.

For example I am near old town alexandria and the businesses are 200 year old row homes and there is no place to put ramps to get in establishments and door openings are not wide enough, but that is because they also could never comply. 

Install cameras and exterior lighting on timers, place no trespassing signs, and place items that indicate occupancy - like a BIG dog bowl near the front door, shoes, etc. 

We've spent time near her parents in Atenas, and I especially like the Roca Verde community there.I think we'll know a lot more about our direction after this year's trip.

I live near a local college and this is in the East Bay Area, CA.