Are you cash flowing the property?

Give some consideration to the amount of money you want to invest for a down payment plus any closing & renovation expenses here too, although if you find a sweet deal you can find outside money to extend your reach.Next run the property through a quick analysis.

Looks like that will get absorbed though and starting in 2025 there will be a big lag in construction and deliveries, so hopefully that will help us on rents.For the standard deal now in DFW, break even or a little cash flow probably requires 30-40% down.  

During rehab process the bank sees us with; 2 mortgages, 0 rents, and 1 income (spouse not working) and would be too risky. 2 mortgages will make us at borderline break even cash flow with existing income.

@Robin Evans Do you have only those leads, or are you receiving a steady flow of leads?

I know that the house will cash flow but am curious what to expect from the appraiser on how he thinks about the new units and how much equity it will add?

Now, I feel I would probably have to wait longer for rent prices to go up for me to get positive cash flow from renting out my current home(2nd home). 

You can look at the relocation as an investment in the property since it will be an issue if you ever want to sell.Years ago we only provided w/d hookups, but these days we include w/d in all units, raise the rents accordingly ($25-50 per unit) and enjoy some extra cash flow.

We’ve checked our gutters we’ve extended their drains and directed the flow away from the house.

It is a difficult balance to be considerate of tenants but you have to be considerate of your bank account.