How to Price the Condos: Do a reverse amortization schedule for a 30-year mortgage based on Room Rental Prices in the Area.

I believe its an epoxy based paint. 6.

I would still set aside money for renovations that are need based if you do that and use the rest to invest.

Is  this based on one of BP's deal analyzers?

If the work needs updates, that’s where it can add up, but $30K sounds like a reasonable cushion based on what you’re describing.It sounds like a solid deal, especially if the cash flow is good.

I have a C property based on age and condition that is in an A / B neighborhood.

Based on the numbers and my strategy, do you think this is a good investment for my first property?

This will vary based on region but in general 2 – 5 points, 9% - 16% APR (meaning this is the annual rate so divide it by 12 to get the monthly interest amount), and documents fees can be from $600 – $1,900.

Note: We do 50+ investment property loans a month and the most important thing I tell BUYERS of properties being sold as or soon to be STR is make sure you are paying the market price per square foot and do NOT buy based on income approach/CAP rate.

@Steve Vaughan  when we went through the 08 to 2010 debacle and over 200 landlords handed me back their houses.. and lost ALL their money... it was an eye opener and they were all landlords all west coast based   a few on east coast.but they walked..