Someone has a gas stove and the new rental only has electricity; someone has a 33 in fridge and only a 30 in fridge fits; counter space is cut for slide in, not drop in; etc.

Thank you for this post I copied it and sent it to my office to save on drop box.Myself I grew up in the land business as my Dad was in the land business starting in the mid 60s and I started in 75..

You increase rents every year rents aren’t dropping.

There are often long stretches of flat SFR markets in US. like '79-'83, '89-'94, or even down markets like '06-'13 where single family home values dropped 36% on average across country, so 1% rule may help keep some investors out of trouble by at least having some cash flow to safely carry the mortgage during those times.      

I'm also a bit afraid we may be going into a recession soon, so now buying lots of EDV (20-30yr US treasury Bonds, which will go up in value by 30% for every 1% drop in 30yr bond rate) Good luck.

Also, the banks that did approve me told me that they could only use the rental income from the other units (75% of it) for an FHA loan, not a conventional with 5% down (which was my goal to avoid upfront PMI and have it automatically drop off at 78% LTV).

New inspector said that it should not have been required.I agreed with the second inspector’s interpretation, I do not think I should have had to add grounds by the new panel when there were already double grounds where the drop came in.

If rates drop in the future, refinancing again could lower your payment, but it’s good to make sure the numbers work now just in case.

Drop your meet-up information in this thread!

We just discovered a crack in the concrete slab foundation that is a borderline major problem:- It is a vertical crack about 1/8 inch wide that is at least 9ft long, which is causing a 3/4 inch drop in the flooring and some evidence of old (luckily) limited moisture and termite intrusion. - BUT, it also appears old and probably a symptom of the original house settling.