Definitely make sure you get in touch with the housing authority and get your payment details updated, some times this is suppose to be done by the seller, but I would not rely on that. 

Just closed after Christmas 2021, so I'll update as things progress!

Vacancy will be in one unit maybe every 2years or so, and this unit is the only one that has been updated. 

After the 2 year "has to stay primary residence clause" (which is met this coming Feb) this property would be my first rental in the area, and utilizing the cash out refi, would give me the money to move into my next property without any extra out of pocket money.I'll be sure to come back and update this for any newcomers that want to hear from beginners or are still in the "learning before you leap" mindset.I'll list the purchase info and criteria as well as the rental potential in the area and the cash out refi results below.Initial Purchase:3 bed / 1 bath / 1000sqft / 0.46acre / built in 1980 - Appraised at $140,000 in Johnson City, TN - Feb. 2020Credit Score at the time: 648 (This was a focus of mine as I had been repairing previously damaging years in my early 20's)Purchase Price: $132,000 using an FHA 30-year loan at 4.625% / Closing costs from me $4,666.63 / After all fees and closing starting mortgage amount was $129,609.00 / Monthly Principle, Interest, Escrow (Insurance, Property Tax, Mortgage Insurance) payment: $869.12Rental Potential:Johnson City TN is home to East Tennessee State University and close to Bristol TN for all you NASCAR and drag racing fans.

Given the neighborhood, we could rent it out as is, but we decided to make at least some cosmetic updates to the kitchens and baths, then we're looking to add two more bedrooms and a bathroom in the basement to make both sides 4/2's before getting financing and paying myself back from the cash purchase.

Given the neighborhood, we could rent it out as is, but we decided to make at least some cosmetic updates to the kitchens and baths, then we're looking to add two more bedrooms and a bathroom in the basement to make both sides 4/2's before getting financing and paying myself back from the cash purchase.

One of which I’ll update the post.

Hello,Visited a lawyer today to update some wills.

Here's an update on this now that it has been completed.

The property is liveable but needs to updated out of the 70's.