The income for the house is basically the combination of the 3 persons together.. so separately they might not qualify,, but together their monthly income is over the 2 or 3 times the monthly rent per month.. whatever you had set for that.Any one under age of 18 is listed as ...

@Troy Luster I think he means he is setting aside 7% of gross rents every year, so that they'll build up over time for when big ticket items need replacing.Most investors set aside between 5-10% for ongoing repairs and maintenance, and another 5-10% for capex.

m=9&y=17&utm_source=HAR%2FMLS+Master+List&utm_campaign=37e6c93251-January+2017+MLS+Release&utm_medium=email&utm_term=0_5c0a7c027d-37e6c93251-252424337Houston Real Estate Highlights in August, 2017: Hurricane Harvey ended ten consecutive months of positive single-family home sales, as volume plunged 25.4 percent year-over-year with 5,917 units sold;Despite Harvey’s rampage, single-family home sales remain 1.8 percent ahead of the 2016 volume on a year-to-date basis;Total property sales dropped 24.2 percent with 7,077 units sold;Total dollar volume fell 22.2 percent to $2.0 billion;The single-family home median price rose 3.0 percent to $231,700;The single-family home average price increased 2.6 percent to $296,418;Single-family homes months of inventory grew to a 4.4-months supply, but is expected to shrink with strong consumer demand for housing in the wake of Harvey;Townhome/condominium sales dropped 31.4 percent, with the average price down 1.1 percent to $196,230 and the median price up 2.0 percent to $159,000;Leases of single-family homes rose 9.4 percent with average rent unchanged at $1,857;Volume of townhome/condominium leases jumped 17.0 percent with average rent down 2.2 percent to $1,551;HAR continues to encourage anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on our Harvey Temporary Housing page as soon as possible at www.har.com/temporaryhousing to provide housing to those in need.

The bad side to this would be higher interest during the rehab phase and more potentially more closing costs since I'll be refinancing two properties.Since this is my first time having to get a little creative on financing I just want to make sure I don't set my self up for failure.  

Small things like caulk, grout, screws, thin-set are the responsibility of the contractor.

@Mitch P.Yes, you can cash out for the full amount of LTV that the lender requires - some require 75% and some allow 80% - also, a lender that allowed 80% may require 75% on another deal if your personal situation changes - debt to income, etc.The deals are out there - I am constantly on HAR looking at my target neighborhoods - I also have automatic notifications set up when a new property comes on the market that meets my criteria.

I am pretty set on moving out to Europe (specifically London), when I graduate.

I will get 5-10 people before I call them back then I set up showings then I set them up every 15 minutes in the evening usually around 6:00 (because they should be at work during the day hopefully).

Make sure to set up keyword alerts so you can get notified about  topics that interest you when they are mentioned in the forums.Look into attending local REIA meetings.

Hey y'all, I'm a first time poster, a complete newbie, and in need of some advice.I have my eyes set on a 4plex in Florida, and boy is it in rough shape.