DetailsPurchase price: 1.1MReturn (IRR):11.86% per yearCapitalization Rate:5.45%Total Profit when Sold: $1.16MHolding period: 20 years5% down (so that I can take maximum leverage)mortgage rate: 6.7% 30-year fixedVacancy: 5%Management Fee: 8% --> I used this only for calculation but as I will be staying there, I plan to self-manage it.Cash flow: negative $1500 --> My primary job pays decently and I can manage this and have 12 months of reserves.

I have talked to my lawyer and it is going to cost $902 to evict them.

I am in need of a property management company for our 14 unit multifamily in Dayton.

If you do go the Ikea route for any furniture, always start on CraigsList or FB Marketplace for used items.If you're renting the space on platforms that don't rely on reviews like Airbnb/VRBO, you could probably keep the furnishings to a relative minimum and help keep your start-up costs down. 

Many lenders have different requirements but typically if you have a downpayment of 25-30%, closing costs, and 6 months of reserves (6 months of mortgage payments), you'll be qualified.

The HELOC/HELOAN will have the lower closing costs and you're not giving up your 3% rate.

For me, I use a combination of Asana (workflow management), Gemini (google AI) and Stessa to keep my portfolio on track.I'm always looking for ways to improve my own workflow, so any insights you can share would be welcome too!

Hi @Adelaide Ning, I manage a few MTR's here in Indianapolis for for clients based out of California, this is a great market to get into based on the growth this city has seen over the last few years paired with the low cost of entry.

Before being approached to help with the development costs, I had considered on buying after the development was complete; 4 lots then having 4 homes built, selling 2 and keeping the other two to rent out.

I'm wondering if the insurance costs are hiking up the expenses.