He mentioned to me that when getting the 2 - unit the total mortgage payment cannot exceed more than 20% of what my current rent is as I am renting an apartment.

Purchase Price 175000 Currently Value   186000 Equity   45600     Mortgage, Insurance, Taxes   1165 HOA   120 Maintenance 10% 145 Vacancies 10% 145 Management 7% 100 Tenant Placement 8% 121 Total Costs   1796 Rent Price   1450 Equity   200     Monthly Cash Flow -346 Yearly Cash Flow -4150     Monthly Cash + Equity -146 Yearly Cash + Equity -1750Thanks for all comments in advance! 

These are the numbers from the mortgage company:Closing Costs: $8,679.11 (half of this is lender points for a lower interest rate)Prepaid/Escrows: $2,211.79Payoff: $130,189 (this is the loan I took out to purchase the home initially before renovating, I put down $23,025 which was 15%)Total funds to Close: $141,079.90Loan amount (75% LTV based on $240,000 appraisal): $180,000Total Due at closing: $38,920.10Help!

I deeply appreciate any feedback as this totally new for me - I’m just trying to quick build something to scape the rental trap I’m in .

For anyone still interested, your best bet here is to find property that's in walking distance or a short drive to the campus.

If you feel the need, just increase total deposit and note on your screening standards that smokers must have higher security deposit.

Your best bet for selling is definitely with it being listed in the local mls.  

I'd bet you'll be able to find some really good deals across the bridge over in Superior WI.

@Anthony Palmiotto , what is the total purchase price and total Capex needed?

But I bet you could find the right deal if you’re patient.