I aim to apply for FHA loan with a down payment of around 5%My Information:Age: 29MSalary: Around $85k (Anticipated increase to around $100k in December 2024)Debt: No DebtVehicle: Not currently owned (plan to purchase after home closing)Savings: $50,000I currently live in Northern Virginia and am ready to buy a townhouse there as a first-time homebuyer.

I'm leaning towards Class B properties in areas that are undergoing revitalization or anticipated economic growth.

It is a triplex so I don't anticipate it being a massive frat party type of issue.

With the area’s growing popularity, house hackers can have half of their mortgage paid by tenants in just a few years.In this article, I will examine market trends to show how the two-family market in this landmark section of Northern Queens has fared over the last three years.2-family Property Values in AstoriaThus far in 2024, Astoria sellers seem to be anticipating a bit of a standstill on property value increases.

@Jordan D'Silva very difficult to anticipate/predict changes in national and local economies, politics, etc.Detroit has been on a 10 year run, that just seems to be getting better & better overall - but, there have been multiple potholes in the journey and there will be more.

We anticipate more vacanies on the horizon, but we do not anticipating lowering rents. 

(Sorry accident hit post before I finished the sentence)Can you summarize how much you anticipate it would take off your principal over the next two years (as a dollar amount, AND as a percentage of your loan amount)? 

If the landlord is paying any utilities that are based on usage such as water, then I might discuss a rent bump to compensate for the anticipated increase in usage and address that with the lease update adding the person as an occupant. 

However there are some reputable new construction builders in the area.There is, as you likely know, a housing shortage and, once Caesars Casino opens at the end of 2024, they anticipate 2 million visitors a year. 

(New roof, paint, etc) and proceeds even if we paid capital gains taxes could pay down other properties debt including adjustable HELOCS which would double our annual income but of course we would lose a door. 1 property is currently vacant and I anticipate at least $10k to refresh including new gutters.