Its easy enough for the realtor to find the average asking price to purchase price ratio and then offer what it would be based on that; especially if there is no other interest.

To me, it looks like a good first starter cash flow property, but I would like to see ya'll's take on it.I found a 3br, 2 bath townhome for around $115,000 in Charlotte, NC area that would serve as a great family home/ potential home for graduate students near the university and the rent in the area off Zillow staets an average rent of $1300 dollars.

That’s typically the first 5 or 10 years, during which you can “draw” from the available funds on the line of credit, then pay it back either in full or by making the minimum payment, much like a credit card.As of December 2017, the national average interest rate on a HELOC was around 5%, so a HELOC is a usually cheaper way to finance a down payment and closing costs on a new home compared to a cash-out refinance of a first mortgage.

Is it rocket science, well no, but the average homeowner/seller is also clueless on those items.

@Rudy Manna The Jacksonville market is operating at a 3.1% unemployment rate, well below the national average.

What is the average DOM in that market with similar house?    

I also think rent is fairly low so would be easy to fill and could even be increased.Rent is currently averaging $690 per unit so $5520 per month in rent income.Monthly expenses = $1445.

Agent did comparisons and median for area is 325k, and average is 350k.

I’m currently starting a new career in the field of Real Estate and I wanna learn more about this industry.

My name is Jake Penny I am a 23yrd old as of yesterday lol, I’ve been in the real estate Industry for two years now flipping houses and buying rentals.