On a daily basis I get questions from investors/property owners about the rental rate for their rental property.

And it's very pertinent to today's environment because it doesn't look like interest rates will be coming down much, if at all this year.

One golden rule I follow,if it takes a long time to fix/replace when it breaks, don't buy a cheap one.Imagine, this thing breaks in the middle of your peak season and the people who can come out to rebuild are 2 weeks out....It takes at least a day or two to build something like this even if you are super skilled.

It’s quite appealing as a long term investment - even at today’s rates.

For Non-Admitted carriers, the important item to then pay attention to is the AM Best rating (or equivalent rating agency).

Other KPIs and considerations you should evaluate when talking to any lender who offered private placement of loans/notes are historic default rate, how quickly they can place your funds (do you get preference over their income funds, for example), average interest rate - borrower note rate and what is passed through to you, are loans serviced by a 3rd party servicer or in house.

Labor is also cheap here. 

My basic underwriting making some standard assumptions on HOA expenses, 20% down, 7% interest rate, 30 year mortgage, utilities, supplies, and maintenance costs shows a loss of about $22k per year if you are self managing.

Charge the tenants a higher rent rate and include utilities with their rent.

The only issue is the interest rate is 7.125%.