Once I ran a higher priced sample deal through the BP rental calculator, the numbers definitely didn’t work.

We are planning on going 50/50 on everything, down payment, mortgage etc.  

I've read in general it takes about 3- 5 deals a year to break even on the initial and ongoing licensing costs and effort. 

We do plan on going with an attorney to get most of these questions hashed out and written out to our needs, or least that is our thought process.

I am going to have a minimal amount for down payment and closing costs and will try to wrap as much as I can into the loan so when I ran the numbers, my cashflow, based on the estimated $5,300, was slightly more than $500 after expenses (if I ran the numbers correctly), which to me seems very tight for having such an expensive property.

Unless you have the capacity to manage your ongoing business and the new real estate business at the same time.

I was planning on going through a lawyer to set up instead of online.

You can ask your attorney if it’s ok to require all tenants to carry renter’s insurance for themselves (which is not expensive for them, probably about $20/month).Often when you have an attorney you use on an ongoing basis, they don’t necessarily charge you for quick questions that they know the answer to off the top of their head.  

I ran across an interesting deal and wondering how to proceed?

$90/moTaxes, High, low, etc: low for the city, seemingly average for the area overall, I ran them at 1650 a year, a slight step up from 1600 of 2020, and historically they are at highs based on these trendsWhat makes it work, (not) feasible: honestly as a house hack, it is something that makes sense, not a lot of bathroom stuff, but the numbers are great for owner occupancy, it doesn’t actually cash flow as non owner occupancy, and in this current market for a newb the leverage just isn’t there for me yet, so for me a partner would make this work to shoulder the burden and eventually turn this into a better place, and potentially get more rent out of it.Location: MSU Sorority / fraternity areasMarks in its’ favor tons of work done to it, furnace, a/c, roof, misc and windows.