I can't stress it enough, but finding simple things you enjoy outside of work are critical your success!!

He is looking for $290,000 but realistic offer price with the current interest rate and other expenses is closer to $260,000. 

Just looking simply at rates may trap you in a way..

. $80k will net you $1200/mo.That said I am of the opinion that rent rates (up significantly since Covid) are plateauing, I don't expect to see them climb significantly higher.Regardless, factor my position of being a cash-in-hand personality who doesn't much care if the hype is telling us to buy-buy-buy or run for the hills.

I am thinking if we bought it for my mom it would be with the understanding that we wont make anything on it until we resell it in a few years, looking at rent in the area it wouldnt cash flow if we were to rent anything out with the current rates.

Enjoy!

Also, remember that interest rates are also negotiable, and the seller gets all the money from the interest. 

(Quoted about 8.5% rate on a DSCR loan, and budgeting 10% of rents for capex, 9% for PM, and 5% each for vacancy and maintenance) After-rehab rents would be about 1350-1500 based on comps.

Rates will be in the 5's right now.

This program is also winning on our weekly interest rate survey at the moment.Here is an example of a loan summary put together for a client last week.