Since you did the math and figured you would live in an $800+ unit for a bit over $200, all while controlling a $400k asset with tax benefits means it still accomplishes the house hacking goal.

Hey BP! My name is Walk with Me Drey, I live in Wilmington, Delaware and have been here since April of 2015. I have a property that I paid 28,9k and has invested about 15k for a total of 43,9k. I am a father of 3, wor...

Be objective and let the math tell you where to go.

It’s a pretty easy math problem.

That being said, you still need to do your homework on the market.

I'd be especially curious to see any example math behind this if it exists somewhere.Video: https://www.youtube.com/watch?

Agent’s homework: - Research some potential Farm Area, and up and coming neighborhoods,- Forward some properties that fit the given criteria,- Regather some previous knowledge from Investor clients,- Possible Financing options- Sharpen knowledge of Foreclosure procedures.My Homework:- Research potential Farm Areas and analyze a few properties as examples. - Go over finances and organize documentation for the loan approval process. - Establish Property Criteria for local Fix & Flips- Ask the contractor (old mentor) for advice for my next steps when walking a property.

When you replace a current mortgage with cash, thinking you are saving the interest, is not understanding the math...and who pays for what. 

Hello BP Community,Brandon Turner often says on his webinars that +$100/unit is a base hit, +$200/unit is a home run, and +$300/unit is a grand slam. I love that rule of thumb so much, I actually have it posted on my ...

. $4451 - $3900 = $541 rent lossPITI on new primary + 541) / monthly W2 income = DTI(Although in the real world this math is run per property... but the aggregate numbers would be the same.)The 75% rule applies to any property you've acquired recently (or put into rental use recently) such that it doesn't yet show up on your tax returns or was acquired midway through the year such that the info on your Schedule E wouldn't be representative of ongoing income and expenses).For a property that shows up on your prior year's tax filing, we analyze the Schedule E the math goes like this:Net Sch E income or loss + depreciation + amortization + HOA dues + mortgage interest + MI + homeowners insurance = net income(net income / 12) = monthly incomeMonthly income - PITI/HOA = rent income or lossThere's one more add-back that can go on the list above... if you've had unusual one-time expenses during the prior year (major renovations, disaster losses... pipe burst, flooding, fire) you can add those back.If the property was out of service for a period of time due to the above unusual expense, but has been re-rented, you can sometimes make a case for going back to the 75% rule.I should add that this goes for properties that show up on your personal tax return (whether titled to you or an LLC).