It takes extra effort to follow the money on the financials I’ve seen.Some quick math should give you the bulk of the amount of income (# of houses x HOA assessment, with an allowance for some non-payers) available to cover expenses.

Little math here, started off at x (which was market for homes in area).Went to x+$100,000 after $40k in upgrades, I am willing to offer x+$30k.

Do the math.. 3.5% of $XXXk is $XXk.. 20% is $XXXk..

If you want to live in the Andover area for personal (commute) reasons, then take steps to do so, and don't stay straddled between Andover and Central MA.  The

As the math will show, however, this is not an advisable strategy for multiple years.To illustrate this let’s change our example a little bit.

In this particular example, even if you were renting out both units, I still can't make the math work out in your favor. 

The numbers don't jive with my math for the area.

For ease of math, let's use a property that is worth $200,000.The HML will likely lend you about 75% of the ARV.If the value is $200,000 then the HML will lend you $150,000.So if you can BUY and REHAB the property at $150,000, then you will have ZERO out of pocket. 

When you do the math yourself, you will find the realistic NOI to be drastically lower than advertised. 

Doing the math, it appears the mortgage payments were amortized over a 20 year period.