This will continue to push up the prices.Sales - Months of SupplySales - Median $/SF by MonthDespite increasing interest rates, $/SF climbed throughout 2023.

However remember since you still will not have a score your interest rate will not be nearly as good. 

The BP rental report shows below:Monthly cash flow: -$349 /moIncome: $2,300 /moExpenses: $2,649 /moCoC ROI: -2.79%Pro Forma Cap Rate: 3.35%Purchase Cap Rate: 5.10%TIA!

Many would-be homebuyers are turning to Houston’s rental market due to ongoing concerns about elevated mortgage rates.

Will just have to wait it out until rates go down and I refinance as well as raise the rent a year from now. 

The interest rate is 4.5.

there goes that 'cash flow' that was promised.and with interest rates where they are, even those supposedly attractive low PP houses just won't cash flow very much.can you house hack in CA instead?

Never send money in advance for their fee's  NEVER. thats a huge red flag that they are just out for fees and are fake lenders.2. bad or not really good written english .. on the phone they sound like they are off shore ( which they are ).3. rates  lower than market most of the fake lenders will advertise 5% rate that does not exist.4. insisting you pay for mortgage insurance  there is NO mortgage insurance on PML HML loans does not exist.While NMLS registered and state licensed is a good way to vet a lender keep in mind only 12 states require it.

Here's the revised budget for a similar project in New England: Land Acquisition: Approximately $100,000 (reflecting the higher land costs in New England) Utilities and Tap Fees: Adjusted to $9,800 (originally $7,000 in Ohio) Engineering, Building Permits, and Architect Fees: Adjusted to $7,000 (originally $5,000 in Ohio) Construction Cost: Adjusted to $252,000 (for up to 1,125 square feet at $224 per square foot, considering the higher construction costs in New England) Total Adjusted Project Cost for New England: Approximately $368,800For a more ambitious project aiming for a 3-bedroom, 2-bath unit covering 1,750 square feet in New England, the budget adjustments are as follows: Land Acquisition: Approximately $100,000 Utilities and Tap Fees: $9,800 Engineering, Building Permits, and Architect Fees: $7,000 Construction Cost: Adjusted to $392,000 (for 1,750 square feet at the adjusted rate of $224 per square foot) Total Cost for the Larger Project in New England: Approximately $508,800These adjustments reflect the anticipated increases in project costs due to the regional differences in construction expenses and land prices between Ohio and New England.

Looking at the Year 1 data is typically enough.It also calculates Cap Rate, 1% Rule, and Cash on Cash return percentageI think the 1% rule, CoC, Cap Rate, and some other metrics are fine for comparison sake but none are a one-size fits all.