These guidelines are MUCH stricter than before.

No legal advice.

It is not a legal living space, period.

.$324,000 Total CostHolding Numbers:$2,100 Principle Interest Taxes Insurance$1,900 Rent from 4-bedroom SFH (with 7% vacancy this drops to $1,767)$1,300 Rent from myself in renovated 2-bedroom Carriage house$967 Profit with 7% vacancy on the 4-bedroom rentalThe garage could potentially rent for $300-800, but I'm not factoring it in because I'm not sure of how legal that is.This is my first purchase.

HOWEVER, they have still not found someone to sublease and if they don't have someone by Feb. 1 I am afraid they aren't going to be able to cover the full rent of $1200 and they have already threatened to just move out too if they can't find someone and can't afford the $1200.I have never run into this issue before and it seems completely messed up to me that they think they can just walk away from a legally biding agreement that we all signed as a 12 month lease for $1200 per month.

No legal advice.

The so-called 50% rule (some use 60% if the landlord handles utilities) does have statistical validity over the long term and is a good guideline to use as s first screening filter.

. :)I was going to leave it at that, but the bank foreclosed on the legal description, the property it held as collateral.

I also asked if they were to sue me, what amount of liability would the listing agent have; the answer I got was that TREC legal has not and would not provide a specific answer to that quesiton.

@Chris MartinAll good stuff Chris.FNMA guidelines: These are guidelines from fnma to servicer, not law.