The property would rent long-term for $2,500 currently.

Situation:I am currently looking into buying a home that is 4,500 sq ft, but requires the entire house be renovated.

I was able to find a few lenders that would be willing to finance the project, but after breaking down the numbers I found that this project will not be feasible given the current interest rates and market rent.

Appreciate all the responses and advice I read them all with thought and made my decision I’ll evict if the SD isn’t paid by end of the month.To answer some questions I bought the house when I was young (24) It was a fixer upper so I was desperate for tenants and I’ll be honest I didn’t know any betterOne reason why I waited this long was because I’m in NJ we had extremely strict laws during Covid and courts were closed for about 3 years also he pays rent (current market value) every month and doesn’t trash the placeIn a way I’m glad this happened though you can only learn from your mistakes and I’ll DEFINITELY be more strict moving forward Thanks again everyone for helping me make my decision

My current tax preparer does not seem to offer much of a strategy with regards to real estate and long term planning. 

Currently have tenants and paying monthly consistently.

Currently, several states offer promising rental markets.

Now it’s more than $107,000, according to the NAR.when rates were at 8% this was publishedA mortgage rate that stays around 8% means median home prices need to fall by 35%, to $265,000.If rates stay at 8% and prices at current levels, income needs to increase by 63%.

After a fair amount of research I wasn't able to find much on them, does anyone currently utilize the system and have there been any issues with the court accepting the receipts as proof of mailings? 

She said she doesn’t want to be a landlord but has listed 2/6 units for furnished long term rentals to see if she can generate more income than her current STR situation is bringing in.