FB is still worth it just a lot of bad applicants you can rule out right away.

The good news is that events like this are fairly strongly correlated with mortgage interest rate improvements. 

Profit has to be made in order for those products and services to continually be offered, improved and consumed. 

Have you thought of living in it immediately while you improve it (to either rent at market rate or to resell)?

Obviously, it's too late for this circumstance, but I'm always looking for ways to improve my lease and business.

Even if you have to delay your career for family, improving you capital position is never a waste of time.

Download PDF Edit Report Discuss in Forums Other Actions $1,500.00 Monthly Income $786.67 Monthly Expenses $713.33 Monthly Cashflow 12.53% Pro Forma Cap $10,024.00 NOI $18,480.00 Total Cash Needed 46.32% Cash on Cash ROI 18.26% Purchase Cap Rate Expenses Income 50% Rule Total operating expenses: $664.67 Mortgage expenses: $122.00 Vacancy: $75.00 Repairs: $75.00 CapEx: $75.00 Insurance: $150.00 Management: $150.00 P&I: $122.00 Property Taxes: $139.67 $54,900 Purchase Price Purchase Closing Costs $2,500.00 Estimated Repairs $5,000.00 Total Project Cost $62,400.00 After Repair Value $80,000.00 Down Payment $10,980.00 Loan Amount $43,920.00 Loan Points $0.00 Amortized Over 30 years Loan Interest Rate Monthly P&I $122.00 Total Cash Needed $18,480.00

I am asking because I always come across discussions mentioning the 21 days rule, but never heard about the 60 day rule.This could have major implications, as by the 21 day rule, landlord would have to return the deposit by 07/21, and would potentially lose rental income for August, depending on the market, as rents are typically hard to collect after the deposit is returned.

At first glance, this passes the 1% rule, which I think is good for Houston? 

When looking at real estate all assets classified as 15 year land improvements and 5 or 7 year personal property qualify for 100% bonus depreciation, meaning you can deduct their entire cost in year 1 instead of spreading that deduction out over 5, 7 or 15 years.