--OFFER SPECIFICSListing price = $230,000Potential Offer = $175,000Expected renovation costs = $50,000ARV = $300,000 (this is a conservative estimate and could be closer to $325,000 depending on rehab level)--INCOME3 Bedrooms = $1,800/month (includes water and sewer in rent)2 Bedrooms = $1,400/month (same utilities included)(1) 2 Car Garage = $0 (My agent says I could rent this for $150-250/month but I wanted to be conservative and exclude it)TOTAL INCOME = $3,200/month or $38,400/year--EXPENSESTaxes = $808/monthInsurance = $110/monthUtilities = $0 (built into rent but I am still exploring doing RUBS for water, sewer, and heat)Landscaping = $0 (built into rent)Capex (6.25%) = $200/month (I usually use 7-8% but lowered this because of the high rehab)Repairs (6.25%) = $200/month (same reasoning as capex)Vacancy (6%) = $192/monthPM (8%) = $256/month (we will be self-managing)TOTAL EXPENSES = approx. $1800/monthNOI = $1400-- MORTGAGELender will finance 70% of the purchase price, 100% of the rehab.  

Two of our rentals have about 10 years left on them at 4.875% - refied 5 years ago on a 15 year term.

I would explore this strategy while looking into potential markets where you want to be stationed next.

I usually dump all my OH like a regular project and dump everything there then split them at year end to get my p&l.

Yeah I'm planning to take the commercial or portfolio approach as a backup plan if all else fails.First I want to try and explore any personal options.

Meet them at meetings/lunch/coffee; discuss deals; get to know them.Bob

So perhaps the reason why you have not landed a deal yet is becuase you have not explored all your options and more than likely that is because you are not educating yourself as much as you should.

@Zachary Phelan - Are you still open to exploring tiny home community developments?

While I don’t smoke if they are smokers it puts them at ease. 

I’ve got 2 Pitts in my homes and no problems with them at all .