You will also have to factor in the closing cost for the new loan.

Hey, Jaycee, I've only been running it for a couple of months now since I closed but it's been doing about $6000/month in gross rents so far, this month will very likely be closer to $4500-ish since it's by far the worst month of the year for rentals in that area. 

I am under contract for a 3 family home w a very unique set up. 2- 1 bedroom apartments and 3 and 4th duplex which has 5 bedrooms but only 1 bathroom this home is 8 min from Brown University in RI and 10 min from Johnson Wales. (6miles)Do u think its close enough to attract college students especially the duplex? 

Duplex appraised 380 (super ****ing low ball) brings in an estimated 3,900 a month in rents. buyer agreed and SIGNED addendum to purchase at 397,500. day of closing they dont show, tell us they didnt know what they agreed to pay over appraised value and are trying to get us to accept 386k. my agent had me lock in our month to month long term tenant to a year lease for THEIR lender and now they pull this.. they have only 5k in escrow account.. my agent wont reduce his commission from 3%-2% to help bridge the gap. suggestions?? 

We closed the deal about 30 days later, and the buyer still owns the property today, 10 years later.

When I buy an occupied property, I introduce myself to the tenants on the day of closing; then, I inspect every unit within one week.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!).

They have a bigger single family home and a tiny home on the property, but there close proximity and shared driveway present functional problems that are undesirable for guests. 

1) 50% rule is a well accepted generic approximation 2) hundreds of underwriting has shown it to be fairly close for my underwriting for a SFR purchase in San Diego.  

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