This will be my first rental property so want some advice.Purchase price - $195KDown payment - $59,176 (25% plus other closing)Annual rental income - $29,424 ($2,452 a month for 4BR)CoC return 10.7%Cap rate - 9.7%; Price to rent ratio - 6.6Cash flow will be over $5k per year after paying taxes and mortgage.

In the past, RentingFamilyMember has filed Schedule E and apportioned expenses by rental percentage, including mortgage interest and real estate taxes between Schedule E and Schedule A.

We would just need to verify you have a decent credit score and the rents can cover the total mortgage payment at that loan amount. 

Lenders typically want to see 2-3 new builds completed within a 12-36 month period, depending on the lender.

Funding: my plan is to shop around hard money lenders for purchase and rehab for best rates/fees/down payment.

Providing something unique in a very competitive environment is essential Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Private money lender, 100% financing no payments for 30 months, interest only months 30-60.

I always ask and take whatever expense information I can get, but I don't really rely on what the seller tells me for operating expenses (and neither does my lender).

Private money lender, 100% financing no payments for 30 months, interest only months 30-60.

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