If you're familiar with the 2% rule (monthly rent >= 2% of asset value) you'll know that you aren't getting that now.

There's a lot of stringent rules on a guy like me, since I'm a business owner and I have 2 rental properties.It was tough for me to qualify for 420K in 2009.

Also, since you are looking to rent use the forum search feature to learn about the 50% rule.

You're getting over 2% in rent on purchase price and only putting 15% down... assuming 50% expenses you're still at a 20% CoC return even with a 15 year mortgage... sounds like a great deal by my standards.Taxes are a touch high for the 50% rule at over 10%... you're insurance is crazy high on that cheap of a place (mine are $600 - 800 on $70k purchase price).

Lots disagree with the "50% rule".

I am looking to purchase a owner occupied duplex (rent one side), however within the last year I had 3 new mortgages so it was hard finding a lender that would let me use the rental income without the 2 yr wait rule. 5% down 3.75% interest on 30yr fixed mortgage now I'm house shopping and preparing my family for the move.

The numbers work although using the 50% rule you'll end up closer to 190 a month assuming you could pick it up at $52k.

. $800 (GOI, Gross Operating Income) * 50% (rule of thumb on expenses)= $400 (NOI, Net Operating Income)... $400 - $330 = $70 (free cash flow)... $70 * 12 (months in a year) = $840 (yearly cash flow)

-Steven the Tax GuyYour Guide to IRS laws, rules and regulations.

Depending on where you are there is a 3 to 7 year contemplation rule for disposing of assets, attempting to dispose of property prior to any application for any assistance can require the value to be considered, so my advice is don't mess with the title, except as to a family trust.Good luck....