What you need to do now is set screening standards and write them down (make sure they don't discriminate). your standards should include things such as credit score minimum, income requirements, occupancy maximums (you have a legal limit, but you can set a lower limit if desired), as well as some rules such as: no prior evictions, no felonies, etc.

if you self manage you may be able to keep expenses trim at around 30%, if water/sewer is direct billed, i wouldn't pay more than 130k due to market, how small it is, and lower lot rent. and that is based on 50% expense ratio w/ 10 cap applied with more conservative expense ratio to build in a little bit of room for error.

That will depend on the terms of the REPC and the rules of the MLS.

My concern is that a prospective tenant sees that it is for sale as well and will not apply for the rental.

I am trying to decide between using the 203k loan which I know limits my options or if I should use a combination of private money and a HELOC that I am applying for as we speak.

I am making sheets for running quick numbers on bigger units and was wondering if anyone had a rule of thumb for rehab costs?

If this is Philadelphia, I would imagine that similar rules apply.There may not be any apparent legal issues, other than the need to evict your non-compliant tenant for creating a seemingly large issue.

If you would like to attempt to negotiate a return for the $654 you paid for the remaining part of your August rent, the early termination fee will apply because you will be attempting to receive a refund for money legally owed.

Doesn’t even pass the 1% rule and I can see as others stated your calculations are way off .

Originally, we'd planned to include him as an owner of the TIC (but not have him on the mortgage as we've already applied for it and gotten approved).