I just provide DTV and internet.

Based on my current savings rate, it would take me about 3-4 years to save up enough for the down payment on my first investment property.

In the sheet for post reno: Gross Income: 6KOperating Expenses: -3KDebt Service: -4Kso  6-3-4 = -1k/month. 

Also as I understand it qualification for these loans are based on the property as opposed to the borrower.

However, a common benchmark is aiming for at least 6-8% cash-on-cash return based on your total investment (purchase price + rehab + closing costs).Always factor in appreciation potential, tax benefits, and personal risk tolerance.

Competing with Experienced ProfessionalsNew agents may feel overwhelmed by more established competitors in the industry.Solution: Focus on your unique strengths, provide excellent customer service, and embrace modern technology to differentiate yourself.The challenges of being a new realtor or investor are real, but they’re not insurmountable.

Working with Real Estate ProfessionalsLocal Real Estate Agent: Choose an agent experienced in student housing.Property Management Services: Consider hiring a property manager if you’re not local.Inspection and Appraisal: Conduct thorough due diligence to avoid costly repairs.6.

However, be mindful that preventative maintenance, such as HVAC servicing, can arise even with recent renovations.

Based on your situation, you will likely need to recapture the depreciation when you convert the property from a rental (STR) to your primary residence in 2025. 

“A new Michigan law bans many landlords from rejecting tenants based on source of income, like housing vouchers, veterans’ benefits or Social Security.Gov.