As a newcomer to this field, I am eager to learn and grow, while also contributing value to investors and professionals.

I just found this group.

Interesting concept.

If you have ever learned something important by trial and error, then you can probably understand the frustration that you feel when you make a "rookie mistake" or a simple error that creates a big negative result.

I’m assuming this varies from lender to lender?

Purchase price: $135,000 Cash invested: $40,000 Sale price: $225,000 COMPLETELY UPDATED Colonial Home for Sale in Ontario Minutes from the Lake & Village!

I’m interested in house hacking small multifamily or single-family homes with ADUs.

I'm sure this was definitely a thing that was achievable in the COVID years...So the 2% rule seems like it would get you a lot closer to your mark than 1% in today's interest rate climate.1% really does seem like a unicorn.Now - here's the nitty gritty.

What made you interested in investing in this type of deal?

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.