What I’m really intrigued on doing is getting a short term rental, mainly because of long term appreciation and I can depreciate the first year and potentially reduce my other businesses income so there would be a tax savings there on top of some monthly income coming in.

@Uzziel CortezWhat are you doing to start off with generating seller leads?

But I'm pretty sure I can't find any houses for 20k around here If you want low income rentals stay as far away from NYC as possible.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

No income no doc 

We hired contractors to construct the basement unit and turned 300 square feet of unusable space to a $1,000/month of rental income.

Can't use bonus depreciation but could use accelerated depreciation and get most (not all) of my rental income tax free.

What I’m really intrigued on doing is getting a short term rental, mainly because of long term appreciation and I can depreciate the first year and potentially reduce my other businesses income so there would be a tax savings there on top of some monthly income coming in.

So $30k plus any state income taxes leaves you with $150k+ after paying off mortgage.You can certainly do a 1031 tax free in to a new rental.

 Hey BiggerPockets family,I was just approved for an owner occupant, Fannie Mae, 5% down with a purchase price of $1.3 million for a 4plex in the Phoenix Metro of ArizonaMy middle FICO credit score is 759My current DTI debt to income ratio is 30%I have enough down payment, closing costs for the subject property, and enough liquid reserves for all 10 of my apartment buildings totaling 45 units in PHX Metro AZmy mortgage lender quoted me with a rate at 8.125% with me paying 0.156 points totaling $1,920My question is,does this 8.125% interest rate sound reasonable for an owner-occupied fourplex 5% down Fannie Mae conventional loan as of March 27th, 2024, at 1700 hours?