Cap Rate may be a good internal metric for an investor to be aware of and use to evaluate similar properties, but there is absolutely no bearing on value until you get to 5+ units.A house at this price point rarely makes sense as a rental.

PURCHASEPurchase Price: $ 499,900Amount Financed: - $ 399,920Down Payment: = $ 99,980Purchase Costs: + $ 9,998Rehab Costs: + $ 0Total Cash Needed: = $ 109,978Price Per Square Foot: $ 66.7Price Per Unit: $ 62,488RETURNS & RATIOSCap Rate: 10.7%Cash on Cash: 17.3%Return on Investment: 3.4%Internal Rate of Return: 3.4%Rent to Value: 1.3%Gross Rent Multiplier: 6.5Debt Coverage Ratio: 1.6FINANCINGLoan Type: AmortizingLoan Amount: $ 399,920Loan to Value (LTV): 80%Loan Term: 20 YearsInterest Rate: 6%Loan Payment: $ 2,865 Per Month$ 34,382 Per YearASSUMPTIONSVacancy: 5%Rent Collection: MonthlyAppreciation: 3% Per YearIncome Increase: 2% Per YearExpenses Increase: 2% Per YearSelling Costs: 6% of Sales PriceLand Value: $ 0PURCHASE COSTSTotal (2% of Price): $ 9,998REHAB COSTSTotal: $ 0

I first became interested in real estate investing while working as an intern for a small residential investor/contractor in New Orleans the summer of 2012.

If the owner lives abroad then they should have notified the tax collector that their mailing address is international.

I am investigating this aspect since there are few legally doing it.The market for MTR seems like a good idea - Hershey hospital traveling nurses, hospital interns/students (teaching hospital there), Hershey Company interns and relocations, maybe other.Furnished Finder and other sites (traveling nurses) may be worth surfing.

When I share with property owners the estimates from our internal STR tool, I similarly encourage them to pull up their spreadsheets to input what they found after manually reviewing comps themselves.

I would not necessarily recommend the builder I’m working with and won’t work with them again as a result of their internal issues, but fully support the process of building vs buying.

I earned the "Circle of Legends" Award from RE/MAX International as well as many other production awards.

Go to a different lender.Perhaps the bank has an internal policy for underwriting where they wont loan more than 1 owner occupied property within a 2 year period to the same person.We have been told by just about everyone that the standard is you move in within 60 days, and live there for at least a year.

Look for things on how long they have been in the business, what markets are they in, what's their reputation, what are their internal process, etc.