When lower it 100 or even 50 gets it rented right away.. vacant houses are not good to have.. ( do check your insurance make sure you know how long it can be vacant before you need a vacant home ryder)  But just simple math.. you lower it 100 bucks get it rented.. you can raise it as time goes on.. you leave it vacant 2 3 months you just lost 2200 to 3600 in income .. and at 100 a month it will take you 3 years to get it back.. at the higher rent and many times you still don't get higher rent so you just lost that money and its not coming back at all. that's my thought on it..

One Insurance bill for that one property.

Account ClosedHi Mackalyee, I won't be running this property out of an LLC (will be using umbrella insurance to cover personal liabilities) so i assumed that lenders would be more willing to lend at 20%, but i re-ran the numbers at $25k down which makes the deal appear to be closer to a 10% cash return in Y1.

I am striving to remaining in compliance with company policy, HUD, and the CFPB, although the goal would be to eventually replace my current income so there would never be any issues operating in grey areas.

The best option I could think of for her would be a 203K FHA loan, but I'm worried that the combined costs of the principal, interest, taxes, property insurance, mortgage insurance, plus the repair costs and even potential HOA/Condo fees would be a lot more than she could handle.

If I was only clearing $100 a month, I wouldn't have even been able to cover my insurance deductible.Please learn from my mistakes.Chad

Many of the low and no down payment options I've seen require mortgage insurance, which would probably raise her monthly payments past what she can afford, but if she tries to get a conventional mortgage, she'd have to come up with a down payment which she doesn't have.

I am in the process of buying a home and there will be 3 people on the deed including me that will be occupying the home.Does anyone know which home owner's insurance company will cover us with 3 people on the deed?

Our original plan was to use that paid off property and refinance it to buy 1 or 2 rental properties, fix them up, refinance pay off the original loan and tenants pay mortage, insurance and it will cash flow and do it again and again.  

Add some attorneys fees for preparing the deed, etc. as well.Your lender will likely NOT require a survey... but if you choose NOT to have a survey undertaken, the survey exception will remain in your owners policy.