Just a friendly reminder that the deadline to file Individual, Trust, and C-Corporation returns is today.

This will be my first rental property so want some advice.Purchase price - $195KDown payment - $59,176 (25% plus other closing)Annual rental income - $29,424 ($2,452 a month for 4BR)CoC return 10.7%Cap rate - 9.7%; Price to rent ratio - 6.6Cash flow will be over $5k per year after paying taxes and mortgage.

Income potential, location and price of property How did you find this deal and how did you negotiate it?

She lied about being at her job for 3 years when it had only been 3 months, lied about her income level and prior rent payments.

. - Verified income must be a minimum of 3X the rent. - Current employer reference must be provided and we must speak with the employer.

Consider factors such as site preparation, ongoing maintenance, marketing expenses, and potential income from bookings.

My plan is to make interest payments with savings/income possibly HELOC. 

We also see that the SECT 8 typically pay higher than our market rents in many cases in the lower income areas of town. 

So I would essentially be living rent free.Rental properties are just one of the income streams I have in mind.

It could bring in more income, but you may deal with more headaches due to your tenants not getting along.Hope the info helps!