This can help you narrow down where to focus.In general, here are some things to know about the difference in lending on SF (single family) versus MF (multifamily).Single family home: depending on the loan type and property location you have may the following down payment options available to you:0% VA loan (if you are eligible past military service, or close relation to a family member who served)0% USDA loan (must be in a rural area, and have stricter debt ratios than other loans)3% Conventional loan (down payment amount may be higher depending on the debt ratios)3.5% FHA loanMultifamily 2 units:Conventional loans, generally 15% down, unless you qualify for Home Ready 5% down (Fannie Mae product with strict income guidelines.

I am looking to buy my first rental property in the next year or so and trying to narrow in on a location.

I narrowed it down to multiplying the Price to pay for the house and multiply it by .007%.Assuming a $100,000 purchase Price for the house x .007% = a $700 monthly mortgage paymentDoes this seem accurate as far as a Formula goes to figure it out?

Targets the right tenant pool segment - Every property attracts a fairly narrow segment of the total tenant pool population.

Definitely time to build your time and start narrowing down your options.

Then I narrow it down to the top 2-3 and do background checks and in order of first arrived and approved that’s who I take.

By determining what you want, you'll be able to narrow down your first move.

I would decide what you are trying to accomplish REI wise and narrow down a few markets from there.

Try to narrow it down to your top 3-4.

Once you get down to the zipcode level, you can narrow down to the street level by clicking "OTHER".