.): ~$35K (assuming 8%)Total Cost: ~$375K–$385KProjected Profit: $65K–$75K before taxesThat is a decent margin, but this being a two-year project, you need to be sure the market doesn't shift downward, and that you have a buffer for unexpected costs.3.

It has been on the rental market for about 55 days and the average in the area is supposedly 36.

Market Conditions Aren’t Always in Your FavorHouse hackers often assume their property will appreciate and rents will rise, but that’s not always guaranteed.

It’s great to hear that you’re already active in the Southern Maine market.

Don’t forget. 2024 rent cap was 8.9% so you may never get “market rent”.

I have the option to buy a 1,300-sqft 3-bed, 1.5-bath house in South End neighborhood of Stamford, CT, from a family member before it goes on the market.

I have been narrowing down some markets and trying to explore/research more and network.

Depending on the condition you'll command a better price on the MLS vs. off market.

Another option is to estimate value based on potential income and market cap rates, which can give you an investor’s perspective.

We bought the property at below market rate because the seller was motivated and needed to close quickly.