(Sales price minus selling costs minus purchase price.) plus maybe 10% in state taxes. 

Tell them you intend to run a credit and background check, and tell them what it costs per adult applicant.

The rationale being you are reducing your personal housing costs as the rented unit will be covering some of the costs. 

A way to account for the additional borrowing (or in this case effectively a cash gift towards down payment) is to attribute an interest rate to the $500k (or even an interest free loan over 30 years).

But it's costly, currently I am in the process of setting up ReiReply Power Dialer.

Depending on the deal's profitability, some will only require you to bring 10% + closing costs to the closing table.

His cost basis at that time plus any extra amount he spent would be his new cost basis.

@Connor GoldenInvesting in mid-term homes means you look at what people need, how much they'll pay, how often it's rented, how much homes cost, and what's trending.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!