Enough immediate cashflow to balance out the mortgage, taxes and insurance.

The sellers you are dealing with in these situations don't deal with prorating Taxes, or any other kind of prorations, that is what an escrow agent does. 

When they do, you can refinance to a lower rate.Dealing with current high interest rates (about 7% on 01/27/2025) you have the following choices:A larger down paymentAccept a negative cash flowBuy down the interest rateCombine and balance all three to get an acceptable cash flow today.

There's a lot of suckers who attend these sales, particularly for the lower priced properties and that's precisely who you don't want to be bidding against.

There will be no assessment for increase in taxes or insurance so remains at $1935.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Not sure if it had something more to do with pandemic response to move to lower priced areas or what the motivation was.  

When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan me and my husband are thinking bout:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

Heck, there are even lenders that will NO DSCR, meaning they dont care what the income of the property is and they'll still fund the loan (at a lower LTV and higher interest rate of course).