Because after purchasing the new rental for $700K that leaves them $300K initially, so take $260K to pay off their mortgage, and still enough left to cover a good chunk of the taxes owed. 

We're new to real estate and would appreciate advice on our current home in Texas and our future place in Oregon.We love our house in Austin and aren't ready to sell, but as a long-term rental, it would yield (from what I understand) negative cash flow, covering principal and interest but not taxes and insurance.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Now let's say I find a triplex that covers the 1% rule but combined cash flow from all 3 doors is roughly $150-$200 or would you want to keep it at $150-$200 cash flow per door with the 1% rule applying? 

If a person has RCV or ACV policy makes a huge difference, than question of what coverage level people had and if they had policy add-on's that cover cost over-runs and all that fun stuff, not to mention contents. 

Keep digital records and pictures.  

It will have 10 bedroom and 13 bathrooms.Here are some pictures.

If $50 bucks can cover they’re costs, I know there’s a cheaper solution if I look hard enough.

My spouse only makes about 45k pre tax and I essentially cover most of our living expenses except for groceries. 

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