I went to MFU 6-unit specifically for this reason - - to generate cashflow, not red ink.Basicially, your SFR rent less mortgage, taxes and other expenses must exceed your rent to avoid red-ink.

Jd Martin Month cost for hold will be 650 roughly so one vacancy would put me in the red

It was converted to a room Bedrooms: 4Bathrooms: 3.0Total Square Footage: 1,990Living Square Footage: 1,760Lot Dimensions: 75.0 ft x 110.0 ftYear Built: 1962Property Type: ResidentialSubproperty Type: Single Family DetachedMLS #: 736405This Listing was Last Updated: 12/30/2015

Glad it's working out - I also heard the rental market is red hot in that area.

Plan to begin purchasing investment properties in the Jacksonville area and would like to get financing squared away soon.

Generally though these custom programs tap into title co data bases ( think Fatco) and with a few clicks you have a lot of information on the property. some tie into Zillow type data as well along with Red fin.. showing you MLS listings and solds.its pretty cool really.. and separates the folks that do it for a living from those that are just trying to buy a house or two a year.

If you eliminate that additional square footage in the underwriting process, I think you have a better idea of functional SF to do your calculations.  

To put it in Rich Dad Poor Dad terms, you trade 4 green houses for a red hotel.The basis of what I was referring to was a mid-term strategy instead of a short term or long term strategy.  

Does not look very likely as he came across as a nice gentleman and could not find any red flags so far on his company etc.Was reading Brendon's new book on managing rental which I received few days back and the chapter of contractors forced me to do my due diligence and hence this post ;)

My sister currently lives in the high priced market of Orange County and is looking to buy a home in Redding, CA where I am located at.