It can still qualify if it's a fixer-upper, as long as the rental income from the property can cover the debt service.

[agreement] shall be for an indefinite term, subject to termination by the Owner.

That leaves $400 to cover taxes, maintenance, vacancies, etc.Now, let's pretend ALL your expenses come to $2,600 and you have $400 left over.

Since traditional agent training doesn’t cover investing, supplement your learning with books, podcasts, and investor meetups.Good luck!

Participants are continuously told “we’ll cover all these details so you can do this too in just a moment”, the moment never arrives. 

@Brendan M Hornung If you purchased a subject-to (sub-to) rental property, filing taxes correctly is key to maximizing deductions and staying compliant.

Do they like to be on the couch (if so I have couch covers)?

For example do you have a great w2 and can you afford to cover costs of a major repair or 3 months of vacancy?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.