@Andy Camarda did you make you sure to check the Occupancy and ADR just for 3 bedroom?

We are not sure how to go about the extra bedroom since it was already built and its part of the house.

Beautiful renovated 1 bed room 1 bathroom queens apartment built and designed the way we want it.

Given you had 250,000 liquid why wouldn’t one:1) Purchase a 3 Bedroom 2 Bath Condo2) Rent out two rooms for 900 monthly each 3) Take the third room “effectively removing your rent payment you will need anywhere”Result - 2700 x 12 = 32,400 minus 10,000 for HOA and Yearly Property taxes. 

The house has 4 bedrooms and 2.5 baths.June 1: Tenant informs me there was a leak from upstairs toilet. 

Pursue the numbers and in five or six years you'll have enough passive income that you can buy the condo that speaks to your personality and not sacrifice wealth.Buy the two- or three-bedroom house, rent out the extra rooms and let the renter pour equity into the property for you, freeing you to save for the next home purchase.

We estimate the After Repair Value as follows:We find the similar properties that have sold within the last 6 monthsThe properties must be in the same community and within a one mile radiusThe properties must be updated and/or renovated (If we're going for rental quality we'll look for properties that look like rental quality If we're going for condo quality we'll look for condo quality)The room count, bedroom & baths, must be similar (we'll make adjustments up and down if they are not similar)The square footage must be similar (We'll make adjustments if the difference in square footage is too large)We'll look for a minimum of 5 similar properties- We use 5 because when we have to challenge an appraisal they ask for 5 properties as part of the challenge)We use the MLS & a system called REMINE to find the similar properties.

I am in contract for a 5 bedroom rancher in Charleston, SC.

Hello everyone,, I am in contract for a 5 bedroom rancher in Charleston, SC.

It has 2 bedroom and 3 bedroom units.