Initial Escrow Payment at Closing$7,150Homeowner's Insurance$100.00 per month for 4 mo.$400 per month formo.Mortgage Insurance Property Taxes$562.50 per month for 12 mo.$6,750H.

Initially, I wanted to look at Duplexes and Triplexes but realized that I didn't have the capital necessary to house hack that if I wanted to purchase when I did How did you find this deal and how did you negotiate it?

As far as navigating an agreement with a seller without a buyer initially are you still getting some form of contract with the seller?

We hope to get familiar with this process and to then simply replicate it to more homes and maybe work our way to a MF home after the initial one.

I’ve found plenty of resources for the management of them, but not as many on the initial setup (from a distance).

I use gross rent multiplier as one of my quick initial metrics, and I aim for a GRM less than 10 typically.

He’s Asking $290k (from which we’d subtract the initial $15k deposit for a total due at end of 12 months of $275k)ARV is $350k on Airbnb and should pull in approx. $4.k monthly revenueWhat would you call this type of deal and is this the best way to structure it?

AirDNA shows 82% average occupancy for listings in this category this year, average per night ~$575 and most are not as luxurious as this particular home and I suspect that with some excellent marketing we could do $650 or more (but would want to be conservative in our initial calculations).

Location and cost were the initial items that appealed to me.

Some things to note are that we are investing as a 3 person group, we are hoping to get our first property(our offer has been accepted and is now in the due diligence portion), all 3 of us are on the loan and will be on the deed for our initial property, and we plan on pursing an attorney for future properties, exit strategies and whatever else we have to cover.