They also passed a state law that any R 1 lot can now be a duplex but this has not moved the needle much duplexs of new construction still cost far to much to build given land cost and building cost to be quote un quote affordable.

Regards, R.

See below.https://www.reddit.com/r/askaplumber/comments/1dec1o2/is_this_a_reasonable_price/?

Eric R.

So here's the results from YOUR 10-month table: PV r int princ pmt pmt (p+i) fv $ 150,000.00 3% $ 375.00 $ 300.00 $ 675.00 $ 149,700.00 $ 149,700.00 3% $ 374.25 $ 300.00 $ 674.25 $ 149,400.00 $ 149,400.00 3% $ 373.50 $ 300.00 $ 673.50 $ 149,100.00 $ 149,100.00 3% $ 372.75 $ 300.00 $ 672.75 $ 148,800.00 $ 148,800.00 3% $ 372.00 $ 300.00 $ 672.00 $ 148,500.00 $ 148,500.00 3% $ 371.25 $ 300.00 $ 671.25 $ 148,200.00 $ 148,200.00 3% $ 370.50 $ 300.00 $ 670.50 $ 147,900.00 $ 147,900.00 3% $ 369.75 $ 300.00 $ 669.75 $ 147,600.00 $ 147,600.00 3% $ 369.00 $ 300.00 $ 669.00 $ 147,300.00 $ 147,300.00 3% $ 368.25 $ 300.00 $ 668.25 $ 147,000.00 Total Interest:   $ 3,716.25      Since the 150K loan is amortized, the correct formula to calculate your monthly payment is: A1 = "3%" interest rate per yearA2 = "360" compounding periodsA3 = "$150,000" beginning loan balanceA4 = enter the following payment function for an amortized loan "=pmt(A1/12, A2, A3, 0, 0)" = should give you a monthly payment of $632.41The correct 10-month table looks like this: (note that you're making the same payment of $632.41.

@Meena R. - Are u sure there was a 1031 involved?

I have only done a few deals but the thing I constantly having to remind myself is R/E is a long game. 

Feel free to direct message me if you actually want to have a professional discussion...until then, keep posting about people you know nothing about.V/r Brent MendenhallP.S.

Quote from @Jerry R Harris: Any real estate meetups happening in the Portsmouth, Chesapeake, or Norfolk area of Virginia?

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-r...