I currently live in the bottom and my top tenant pays for 67% of my mortgage.

Now, the headlines are saying things like we may have avoided a recession, the FED stopped rate hikes, Mortgage rates are dropping, Housing markets are heating up in 2024.  

As usual talk with your accountant to get a proper answer :P 

From my experience talking to lenders, as long as the appraisal says the rental income can cover your mortgage, you are in a good spot to secure the loan.Feel free to reach out to me if you have additional questions on loan options (I work with investor-friendly lenders) and/or if you need a second opinions on investment properties in the Denver area.

If mortgage rates climb up again then no appreciation or price depreciation.  

If it was cleaned up properly you and your family will be safe and what's today's news is forgotten in a week.

🌐 Following a positive job report, 30-year fixed mortgage rates soared above 7%.

Rents will nearly cover all mortgage plus utilities.

Assuming at least 50% of the rent is going to expenses and mortgage payment, now she's making 2.65% on her money.

Not trying to be mean but you should have found out the regs before looking for a place not when your about to close on a property.Now I would call the county and find out what the requirements are and see if you can even make this a STR.Also 5k seems way too low to properly furnish a house.I think 20k would be more realistic even if you bargain shop.I bet I would need 30k to replace everything in my 3 bedroom STR.