Hi Melanie, depends on 10 yr note, could continue to go up slowly for next 30-40 yrs as it has done between 45-82 or 1890-1920, or down for 30+ yrs like 1920-1945 or 1982 until 4 yrs ago, if they have 25% down and long term fixed rate debt ( just got a 10 yr loan at 6.95%) and Cap rate >150 Bp above debt rate, they should do fine-assuming good local market, even if value drops 20% short term, it will recover longer term and should be ok.

Once that amount is adjusted you'll have a loan payment updated based off of the rate and terms of the loan. 2) In you long-term expense estimates I don't see any assumptions for property management (7-10%), repairs/maintenance (7-10%), and vacancy (5%) so I would re-run your estimates based off of new expenses.

Hi community - I'm a long-time homeowner but rather new to the investor space.

I'm here to build a business and run the marathon in the right way and however long it takes.

Student rentals are fine as long as you get the parents on the lease.

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

@Josh Urrutia this will be a primary home, so I will be holding it long term.

I have been able to talk to a mortgage broker and have been approved for a loan as long as the appraisals accurately reflect the valuation.

Our goals are more long-term (buy and hold) and lean more toward appreciating markets, but are not opposed to more CF markets, if it's the right deal.

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