I wouldn't invest in an area just because you have a child going to school nearby.They will only be in school for a couple of years and then you have a rental 100%Who will be managing the property - Will it be you or will it be your child?

We had to buy a new fridge for our rental property, which cost about $1000.

Have you confirmed you can use this loan on rentals?

Any current rental property owners that can give me details on the cost of rental license and inspection fees in Lansing, MI?

Creating an LLC in NY is a hassle - all sorts of nonsense about publishing in newspapers for 6 weeks, etc.I tried to research what it would take to own and operate a rental property in NY with a different state LLC. 

Usually, I rent my rooms for long-term rentals with a minimum 6-month lease.

The programs are created for investors who buy distressed homes, repairing them and then either selling them or holding them for rental income and flipping the hard money loan to a long term DSCR loan where the rents will underwrite the loan.Program availability vary by state.

The 1% is meant to represent a point where the rental is likely to just barely generate some positive cash-flow.

The monthly rental of a home should be 2% of the home purchase price. 

These areas are not overly regulated yet, with the most restrictions I’ve run across so far being they can only STR for 120 days a year, or the rentals have to be a month at a time.