I typically book cashback credit card rewards as a DR. to Cash and a CR. to Other Income.

I just received our permit approvals this week. 

As soon as the deal closed, I submitted in my application for the Philadelphia Business Privilege License (which was received online pretty much immediately) and then applied for the Rental License (AKA Housing Inspection license) for my rental property (apparently takes 4-6 weeks).

We reached out to the seller but he stated he did not receive any deposits.

Multifamily rentals help add the extra protection against vacancy and they typically always debt service themselves.You can also focus on amenity style homes or locations to increase your STR ROI and focus on either turn key or TLC properties to speed up the ARV potential.

What are typical down payment requirements?

Typical 3/2 range from 400K-600K while rent is 2K-3K. 

The benefit to them is that they receive income over time, and the benefit to you is that you don’t need to pursue bank lending.  

Average rent for 4 bedroom house can very depending in location for this example we will say it’s $2,000 per monthPer room rent will be $ 3,750 including the bonus/flex room subtracting the normal utilities average $300 to $450 it would a a total rent received $3,300 per house.Let’s say we add an ADU to this?

First month rent for placement and 10% gross is pretty typical in these lower end markets.