This means next house has to be a conventional loan, unless you sell your current one and payoff the FHA loan.

I usually charge 20 - 25% more for a month-to-month extension to offset the potential vacancy during the slow season.This is your rental and your business.

I charge 650 ech for 2 of the bedrooms and 700 for the other 2 larger bedrooms and walk away with 2700 a month. 1800 goes to mortgage, and I pay utilities and the end result????

Even if you have all of your ducks in a row and the funds, without the established history of bill pay, you will be kicked to the curb by 90% of conventional lenders.

The only benefit to a lease option, really, is that you can charge them rent plus additional for the principal balance, force them to pay the taxes, and take care of the property.

We both have over 700 fico midscores and very good incomes...She would be owner occupied ( she currently owns a conventional condo) and I would be the other non owner occupied owner( I own an fha home).

The problem is she’s not on the deed and the person in charge is interviewing different brokers to list the property.

I plugged it into my calculator and if this is a conventional loan, 20% down, 30 year with 5% vacancy, 5% cap ex, $1000 in maintenance for the year and 0 utilities it gives you monthly cash flow of $212, CoC of 6.41 and DSCR of 1.4.

Owners usually charge reserves over time so tenants are not overwhelmed with the CAM increase.

If you do a lot of volume you can work a volume discount with the title co, but most attorneys charge what they charge.Also as a side note, I commend you for taking this on yourself without using a guru program, but I hope you really don't believe that you've already figured it all out just by being here on BP and watching youtube vids.