With a $5,950,000 asking price and only a 5.05% cap rate, after just calculating the value, the property is over priced by over $2 million!!!

Hi Anna,If you're looking for the best rates & terms, it's best for you to build credit history and be the guarantor.

Did you have to renovate it or did you find it ready to rent with those rates?

Estimated rehab about 44k but may be less ( I wanted to be conservative). 12.99% annual interest rate, Originator fee, 2.99 points, closing fees $990.

If they are represented by an agent, their fee must be paid.

Our concern with this is that our current primary is across from the best school in our area on a cul-de-sac lot and we feel it will continue to grow at a high rate and don’t want to miss out on that. 

The desire to have a second home/Airbnb property in the beautiful state offsets the modest returns we're seeing now due to higher interest rates and taxes. 

So let's assume you take out a business loan of $80400, just as an example, as a down payment on this house.The business loan then, would be $479/mo for 30 years with an interest rate of 6% according to the calculator on bankrate.com.As for the property, there's 5 units.

His current monthly Payment Breakdown:- Principal: $314.66- Interest (3.875% rate): $578.779- Escrow: $700.79-TOTAL monthly payment: $1,594.24Estimated rental income: $1.2k - $1.6k per month.Would love to somehow capitalize on the existing fixed rate, but at his current monthly payment and the estimated rent it doesn't seem like a great opportunity for cash flow.

Hi Brad, I'm from the Hospitable.com team (a top-rated short-term rental property management software) and we had a great webinar on taxes a couple of months ago - I recommend checking it out here.