Having a vacancy costs money!

Quote from @Anthony Sigala: We are all aware of the 1% rule--the gross rent produced by a property must equal 1% of the of the property's acquisition cost.

It's an opportunity cost, just like anything else.

You can include moving and storage costs in the charges.

The marketing functions is where the very host cost comes in.

Why is your mortgage cost so low at only $44k/year?

My thinking immediately turned to researching local rental costs per square foot to determine income potential with triple the current square footage.

This will make it a lot easier to manage, will cost you less than buying on the market and typically you can get 1:1 rent returns.

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

It’s a great way to get started in real estate and will offset your living costs when you do move out on your own.