I own another 1400 sq ft SFH (market price $250k, no driveway, no backyard, sitting on a very small lot size of 1742 sq ft), renting at $1500.Originally posted by @Brandon Carriere:@Ran L.Curious what 140k condo you're looking at that rents for $1000?  

With that size property, you'll have staff to run it so you're not involved in the day by day.

I am employed and can definitely afford the mortgage by myself.

The formula is typically based on the size of the unit and number of people living in it. 

It seems like it has the potential to be a decent house hack where I can live in one side and rent out the other side, but I am analyzing it as if I were renting out both units.Here's the overview:Seller accepted my offer of $90,000 (they were originally asking $95,000)Similar sized duplexes rent for around $1,500 total ($750 per unit)The total gross rent would be about 1.6% of the purchase price.I can get a conventional 30 year loan @ 4.5% interest, with a 5% down payment.Mortgage payments with PMI would be around $469 according to mortgagecalculator.org (not including taxes or insurance)Using the 50% rule of thumb to estimate expenses, I might be able to cash flow around $140 per unit.Here's what I found out when I went inside:There are 2 new forced air furnaces.Updated pex and PVC piping.Updated electrical wiring with separate panels.2 old corroded hot water tanks.

I charge for them, because so many of the deals don't pan out.I charge my time plus scope of work, usually works out to be about $275-$500 depending on size of property and how large it is. 

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My listing agent gave me 1 comp for a property that was also fixer upper but was zoned R2 and was on a lot twice the size.

Colliers have recently reported 7% rent growth and there are some major employers moving to the area.

The appraisal alone for a property of this size is going to run $4k+ if I had to bet.