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

Quote from @Spencer Thomas: Quote from @Dominic Mazzarella: Quote from @Spencer Thomas: View report*This link comes directly from our calculators, based on information input by the member who posted.What do you all think of the deal and how I analyze it? 

👋My name is Anthony, and I’m an investor based in East Hartford, Connecticut.

Dont know where to start any suggestions will be great thank you For the 300k property they are probably not going to let you pull any money out based on the amount of credit you already owe.

Quote from @Michael Overall:I understand the utilities will go to basis, on the interest is it able to be yearly deducted based off the conversation you referenced if using form 4952According to one of my colleagues on that thread - yes.According to court - no.

Even with that, I think we will still be way ahead. 2 bed, 1 bath, 1200sq/ft, detached 1 car garagePurchase Price: $38,000Repairs: $20,000ARV: $96,000 (based off Zillow, but a local real estate agent thought that was pretty accurate)Mortgage: $430Insurance: $55Trash Included: $25Rent: $1,000We are now going through applications for our first tenant. 

This leads you to really having to target buyers who are looking for the home as a private home and not selling onto another rental investor.

Basically, you can't STR an entire home here, or even an ADU, and can only STR out a portion of a home that you reside in.

It is a mobile home and I was able to get seller financing for half of the purchase price. 

As the state capital, it boasts a strong government and military presence, supported by the nearby Air Force Base.