I made out by sticking to the ten year Plan and the Rents have to produce more than $100 a month Free Cash Flow for each or apartment.

Thanks for the comment, @Greg Dickerson.I haven't hired yet an architect for producing a complete set of architectural drawings, but I am targeting something like this nearby property in terms of type, style, and finish.I will reach out to a few local contractors for getting a more detailed construction cost estimate.Is there there a rule of thumb for estimating operating expenses?

I'm currently residing in the heart of Washington D.C. and am looking to buy my first income-producing investment property within the next 6 months.

I assume that 50k margin between 120 and 170 should attract someone who could retail them since they have been fully rehabbed and don't need any work, or I guess they could rent them for maybe $1700 a month total if they wanted to.

It's hard to imagine 2.9% being attractive to investors.

Typically on an income-producing property, the income will be taken into consideration, at least a portion of it.

This site attracted us as it is in an Opportunity Zone, qualifies for PACE financing, and has lots of development occurring within a quarter mile.

They can then produce reports per customer.Every month, they would settle with customers, either sending them the excess cash flow or receiving money if shortage.Model your setup after this, and you should be fine.

Moreover, it has attracted not only tourists from all over the world, but also investors.

. $1,455 is definitely a lot more attractive.