Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Plan to do more?

nice, we've been looking at making one of these in-house, seems like a challenge but if executed well should payoff quickly

Quote from @Julian Dragos: If you convert to an LLC, everything should be changed into the name of the LLC.

It also makes it harder for other operators down the road--- not your main concern but we all impact each other.What about you and your wife live in the garage unit, and rent out the house for a lot more, at least until all this permitting is figured out.

Quote from @Faysal Alam: What banks or credit union can I use to refinance a car under my LLC name , my car is a 2023 Tesla model y performance , I owe $42,500 on the car , I’m looking to refinance the car under my business , my business was established 03/2023 .

If you have doubts get the extended warranty. 

I have a house that I am looking to rent long term.

My plans would require the Village to rezone the property.

Hello all,We have a prospective family friend that would like to do a sale private party.