- airDNA forecast increasing, >$550/night by 2021)Short term Rental Fees:-Property Mgmt (20% of revenue)= $1900.00 -Local tax (13% of revenue) = $1235.00General fees:-Mortgage Principal+Int: $1578-Insurance(monthly): $160-Property tax(monthly): $317-PMI: $200 -HOA: $0-Maintenance: $500/month -Utilities/electric: $250-Utilities/grass: $150-Utilities/water: $100 -Utilities/Internet: $70 -Cap Ex (saving 5% of revenue): $475-Vacancy (Saving 5% of revenue): $475——————Total: $7410$9500-7410$ = $2090 cash flow/month on average ——More traditional rental, eg month-to-month: 4 months per yearRental IncomeUnit 1-(3 bd/1ba): $2500/mo Unit 2- (1 bd/1ba): $1100/moUnit 3- (1bd/1ba): $1000/moTotal: $4600/monthGeneral fees:-Mortgage Principal: $1578-Insurance(monthly): $160-Property Mgmt (10% of revenue)= $460-Property tax(monthly): $317-PMI: $200 -HOA: $0-Maintenance: $500/month -Cap Ex (saving 2.5% of revenue): $ 122.5-Vacancy (Saving 2.5% of revenue): $ 122.5Total: $3460/month$4600-3460= $1140/month in cashflow on average

But was that the lease termination date?

I’m learning as much as I can about investing while on this one year journey from reading books listening to podcasts and practicing analyzing properties while I have internet approximately once a month for a few days.I’m originally located in Orlando, FL and plan to purchase a 4-plex to start house hacking with once I’m home.Long term goal is to have a portfolio of multifamily properties.

That said, I still have LOVED my personal house-hacks and most of the ones my clients have done because the numbers tell a beautiful story and being able to eradicate your cost of living is to-date one of the most powerful financial levers I know of.Single family homes can still make a workable house-hack and the magic of it really comes at the bookends price-wise. 

Cary/Apex, <=$350K,Closed, detached & TH, <=2Ksqft Closed Date # of properties closed LP/SP (% of asking) Jan 83 1.00 Feb 61 1.02 March 98 1.03 April 74 1.05 May 72 1.05 June 77 1.06 July 43 1.07 Aug 57 1.04

This has worked every time to date. 

At a remote location, or a big base with lots of good internet? 

If they are month to month, you can give them a notice that they'll have to move out by X date, in which case you could then go in and rehab and rent the properties out at a higher rate.  

The previous owner had some lease agreements in place, but they were 35+ pages long and a little out of date.

They will have the most accurate and up-to-date info on each neighborhood.