Check to see if that is the law in Washington state, too.Regarding the $500 inspection.

Hi everyone,There so many formulas / equations when it comes to buy an income property, such as cash on cash return, cap rate, debt coverage ratio, break even ratio, gross rent multiplier, price per unit, price per square feet, 50% rule, 2% rule, etc.

The Ability to Repay Rule issued by the CFPB caps the maximum ratio at 43%.Given that in most parts of the country it costs $75-$85 per square foot to build a site built SFR (sans land) a 1,200 square foot home will cost $90,000 to $102,000 (sans land) How many 16x80s cost anywhere near that amount?

Want to get your advice on whether I should pursue this deal, its a huge project.I have been offered first shot at a 10K square foot lot zoning LR2 , which essentially allows for cottage, townhomes, row, or apartments two stories high.Its in a good neighborhood next to a park and the neighborhood next to it is one of the nicest in SeattleWe are close to finalizing price and terms.

Before I arrived here I spent 5 years in Washington, DC, getting a Master's degree and working for a few years in the think tank community.My brother, Chris, has been working in real estate in South Florida in one way or another since 2008.

The home could probably sell in 2-3 years for 215 or so with a few updates.Details:4BR/1.75ba1600 square ft2 acre lotbuilt in 1997, fully remodeledSeller has disclosed that they will go down in price for the home, and that they really want to get rid of it.

Now, if you mortgage broker is finding you products from tier II lenders, then you will get a larger mortgage (though technically you still need to qualify at the BoC 5yr posted rate w/ a 25yr amortization) as they have more appetite for risk ... you will also pay for that appetite 4.5 - 7% If you can produce signed leases and tenant estoppels for the property you are purchasing, most of the banks will count 50% of the rental revenue in addition to your earned income {some use to count up to 70%, but most have pulled back} for qualification.

How many square feet (including garage) and how many stories is it?

@David KrulacI definitely agree with what you said, as far as investing in Pittsburgh, that is primarily where I invest (and Washington, PA).

The renters pay for all their own utilities.Repairs needed:- new paint job on the outside - 12,000- new flooring in our unit - $5,000 (all of the other units have new flooring)The lot is half acre and has a Carriagehouse in the back which is 2,000 square feet.