Expect the rest to follow.Brad also knows that he’s describing a very different situation than your imagined set up, where you are posting single rooms for AirBnb occupancy inside occupied houses. 

So, in your situation $12,000 annual rent divided by .20 is $60,000.

i look forward to networking and learning from everyone@Christopher M Silva i'm looking to purchase in ann arbor for a house hack situation while i attend school, also possibly toledo OH as well@Joshua Birk i agree!

But it's hard to just paint the situation with a wide brush.

What is the best way to handle this situation?

It started with a $6,000 mistake...Late Saturday, enjoying one of my much needed nights out, I received a text from one of my tenants stating that the A/C unit was just blown out..I wasn't concerned except that it was a 2am text & call and that the next day was Sunday (weekend service repair calls are always more expensive).As summer approaches, I knew that this was a situation that needed my immediate attention...I immediately had one of my managers collect some quotes for a new unit and labor (never use Yelp!

We received a call from a potential client that is in pre-foreclosure and would like to work with us, however, the situation is a bit odd.

BP People, what would you do if you wanted to get any loan or hard or private money lending but your credit score was 400 something and you weren't able to get anything to help get started in your real estate venture and wasnt able to build up your credit score because of lack of income, not able to land a job or borrow from friends and family, what would you do in this situation???

You might even want to structure in a bonus/penalty situation.

Based on his financial situation, he should be sure to set aside approximately 50% of the monthly income and build a reserve and I would recommend he cash-flow an additional $100 or more on top of that as a buffer.Jackie Bee makes over $100,000 a year, has almost no debt, and maintains a savings account with three months of income for emergencies.