Also you should inquire with insurance agents about the cost to insure.

.- They often get sold Class C or D properties while using Class A assumptions - then wonder why they are losing money.Here's some copy & paste info that you hopefully find helpful:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Enough immediate cashflow to balance out the mortgage, taxes and insurance.

I'm in the process of purchasing a STR and am intrigued by the 3-2-1 buy down. 1st year of the loan would be 4.5%, 2nd year 5.5%, 3rd year 6.5%, 4th year standard market rate.

78 Endicott St, Peabody – A 4-unit property with all 2BR/1BA layouts and off-street parking in a prime location near Route 128, the commuter rail, and Salem—just a 30-minute drive to Boston.Investment Breakdown:Purchase Price: $900K20% Down Payment @ 7% Interest: $180K → P&I = $4,790/monthRenovation Estimate: $200K ($50K/unit) → Total investment: $340KOperating Expenses: ~$18K/year (taxes & insurance)Stabilized Rents: $2,300/unit (market comps)Cash-on-Cash Return: 9% when stabilizedThis deal checks a lot of boxes:Max units for residential financing – You could live here & house hackCosmetic rehab potential – Flooring, cabinets, counters, appliances, paint (~$50K/unit)Strong long-term ROI – Factoring in principal paydown + 2% appreciation, a 5-year stabilized ROI of ~75%Pre-pandemic, these deals were more common closer to the city, but now we’re looking slightly further out—yet they still work as wealth-building assets.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

Does anyone else do it like this and who do you use for liability insurance?

However, I’d like to have a space of my own before living with others again (I plan to house hack again with my next property).I’m seeking advice on how to move forward, as I need to consider things like utilities, taxes, landlord/umbrella insurance, and managing the property, especially with someone renting my garage.Specifically, I’m curious about renting out individual rooms and living on my own for a little while.

Thanks in advanceDown payment: ~90k (25% downpayment)Rent per month: 2300 (5Bed, 4 Bath) with 2100sqftProperty management: ~150 (monthly)Outstanding loan around : ~268k (7.675% APR) 30years fixedLandlord Insurance: 1500$ (per year)HOA: 1600$ (per year)Keeping an eye on interest rates for refinance, so I can then move this property to an LLC instead.

Quote from @Christopher Stevens: Quote from @Lu Kang: Hi Christopher,Now that you are approaching one year with your Dallas property, have you gotten updates on new insurance / property tax rates.I had a similar experience with my place down in Ark.