Have an interesting situation on my hands and I think I know which direction to take, but I'd love the opinions and thoughts of the community to help guide my novice self!

I purchased this new construction home about 8 years ago it under a “go zone” program which provided significantly can’t tax benefits for building new homes and renting them in areas effected by hurricane Katrina.

Do your self and your clients a favor.

I’m currently in the same boat🚣♀️, having been self-employed for most of my adult life.

I ran the deal with 7.5% down on the BP calc.FINANCIALSDown Payment: 21,750CC & Inspections: 5000Cash Needed: 26,750Monthly ExpensesP&I: 1453/moT:  208/moI: 115/moPMI: 175/moPM: 232 (I will attempt to self-manage for as long as possible)Vacancy @ 5%: 116/mo= $2299 monthly payment with PM, $2067 without PM in place.I figure cap-ex and maintenance will happen, and we don't know when.. as something could happen day 4 of owning the property.

Sometimes 1brs are in high demand so that is what I would prefer.If I were you, I would talk to several property management companies in the area (even if you plan to self-manage) and ask them which property they would prefer to manage.

We are having a really hard time getting a conventional mortgage though because we are self employed and started our company (Chip Cookies if any of ya'll have heard of it) only a year and a half ago (everyone seems to require 2 years of tax returns for self-employment).

In some ways listing way low on the MLS has the same effect.

Yes....1925 home...been renting for 3 yrs....double rental...2300.00 for house and cottage ...having old piping issues.and some roof situation. ..had lived there my self....had whole house lifted....has gone up 10 percent in value....just at a standstill now....plumbing 1925...not sure but may be looking at 10 grand or more...don't know whether to keep...sell....or use loan of some type....thanks for your inputs....

So now I've got the whole bathroom gutted cause the cpvc ran under the subfloor, which btw is now sitting on the ground making an invitation to move right in and become my next tenants, but the living room now has a nice trampoline bounce effect when you jump on the floor cause all my joist supports either washed out or sank from under the house!