Rules apparently changed 12/18/12.

I'd just use the 50% rule (50% of gross rents go toward expenses, capital and vacancy).

I also look at it as a retirement supplement.Exit strategy is also a biggy...so much easier to sell a SFH.I love seeing a family move a TON of belongings into the house...No way they are in a hurry to move all that stuff anytime soon.I have not ruled out duplexes...still doing some research into the idea.

They didn't count college or internship in his work history for his home loan, so maybe the rules have changed as we told him they would count it, but they wouldn't.

Although licensing is not required there are laws rules and regulations to follow just the same and a court of law will hold you equally liable.

Include late fees and other rules about late payments of rent.Specify upfront EVERYTHING that matters to you:- Is smoking allowed anywhere on the property?

If you can get past the 4 house rule.

You should research the 50% rule.

No idea why.Review the rules and try again.....but if you're trying to sell for really significantly more you'll need to add value, otherwise it's probably predatory dealing..... ?

You could also do a second on another property, or several others.I'd suggest too that you start looking at a blanket mortgage on several properties (with a release fee on each) and begin consolidating the debt to free you up for financing.Creative financing is utilizing the assets you have to leverage a deal within the boundaries of conventional requirements, the rules and regs, not getting wild with schemes. :)