The owner occupant rate is super low compared to many states but as a rental it goes up alot.  

We always check heating and cooling even if off season on a property.

We decided to market it as a 4 bed/1 bath with an office.Listing Price - $199,900Property Taxes - $2,230.13AssumptionsPurchase Price $230,000In this case I had seen similar properties selling for $225K - $250K so I felt the property was listed low to drive up interest.

Rental property prices are low in this area, leads me to believe there are problems with the rent collected vs expenses.

I also watch occupancy rates and adjust if bookings are low.

I tried to do a cash out or heloc on this house but it couldn't be done because of the price it was low. the house is located in Rockford il, planning to buy in Rockford as well since I live here.

You can do less than 20% down (as low as 3.5-5%) if you intend to occupy the home for at least a year.2) There will be an HOA (homeowners association) which restricts rentals, so be sure to read the CC&Rs (governing documents) to ensure that your rental strategy is allowed, even if you intend to live there at first, eventually you'll be transitioning it to an investment property, so this will be important.

It’s impressive that you managed to keep your monthly expenses relatively low while securing a strong rent of $4,500.Your background as a Realtor and the benefits you leveraged as a veteran clearly gave you an edge.

With your considerable experience and, I'm assuming, strong credit score, you would be well-positioned to receive high leverage and low rates from most private lenders.

He also doesn't want to leave living with my sister and her kids either, but really can't afford to pay more than the $150/month that he's barely able to pay now.Both my sister and her father-in-law are very low income earners, and the house they live in is too much for her to pay for on her own.