Consider both median home prices and rental rates to align with your investment strategy.

It will work out better for him in the end because rent rates are increasing faster than social security income.

I am curious to hear if anyone has experience with a "better" RMS that has better data and can more accurately map rates. 

Hi Ally, at what rate you're going to borrow money against your house equity.  

If you think this is a loan you will keep a while you could consider using the extra seller assist to buy down the rate. 

I purchased a home on my own 2 1/2 years ago on a 30 year FHA %3.375 rate.

Look for areas with high rental demand, low vacancy rates and potential for appreciation. 

Two things to consider:- before rent control in my market we got rid of undesired tenants by raising rent to above market rate.  

debt coverage is a greater obstacle...than appraisal at 75-80% LTV" - 100% agree...DSC is determining loan proceeds in this high rate environment, not LTV.

Since you've got a great source of income outside of that, you stand a chance, but the rates and terms you'll get from a bank or credit union for a non-owner-occupied investment property won't be as low as you think.