(FYI- a buy and hold will most likely be negative cashflow onPurchase Purchase -$1mPurchase Costs (appx) - $10kTotal purchase costs - $1,010,000Holding CostsMortgage-$5,662/mthTaxes (estimated at 1.15% annually based on 1m purchase price)-  $958/mthInsurance - $250/mth (could be more these days)Total holding costs per month are around $6,870Assuming the best case scenario of the property needing no maintenance or rehab and a quick turn around of 2 months for listing for sale to close of sale, your holding costs would be $13,740SaleSale Price $1,200,000minus sales costs (~6% -see comments above) $72kNet Sale proceeds - $1,128,000So, in the best, best, best case scenario the #'s are:$1,128,000 (potential sale proceeds)minus costs of$1,010,000 total purchase costs$13,740 holding costsFor a grand total of $104,260 in potential net profit if EVERYTHING goes as planned with NO repair costs and a very quick sale, etc.

I get enough cheap out of state properties to give myself some cash flow, allowing me to afford the mortgage payments on a couple houses around here--keeping some exposure to the Seattle area's potential for appreciation.

I'm new to the real estate scene and was wondering how to handle potential tenants who want to book months in advance?

Before you go any further I’d do a little looking around at some other properties that you might be interested in buying with your boot from a potential 1031 exchange and see if they’ll get you anywhere near your current rate of return.

A well-maintained property may require less immediate investment.Rental income Potential: Determine how much rental revenue the property may generate.

Hello all,I am a newbie to this site, and wanted some guidance as I navigate potentially buying a 1-1.25 million rental SFH property.

To help you decide, here's an overview of both options:House Hacking Advantages: Immediate profession, easier financing, potential for rental revenue.Cons: limited to multifamily properties.BRRR (buy, rehab, rent, and refinance):Pros: Equity building, a variety of property options, passive incomeCons: Higher upfront expenses and longer duration.If your primary objective is to lower personal living expenditures, house hacking may be a better alternative.

This equity could generate 20-25K in a high-yield savings account annually, but the real estate market's potential appreciation exceeds that amount.

I think the loans automatically drop the PMI when it hits 78% OR if you think the property value has increased (perhaps because you did work to it) then you can get an appraisal and potentially get the PMI dropped sooner.

At the same time, we can talk through the potential renovation costs of the two scenarios to determine which makes the most sense given your current situation and the condition of the building.My personal opinion is always, more cap ex (behind wall MEP) renovation is better to tackle all at once.