Regardless, it speaks to him being a high maintenance person I don't want to rent to.

The biggerpockets rental calculator is great, but sometimes the rent estimates are way off.

There is definitely potential to get it lower but it seems like it is going to have to be way lower after considering the expenses that are going to come with it.The entire property has potential to bring in $3,000 worth of rental income if my rent comps are correct.

I'm highly interested in learning about Wholesaling, Rebuilding and Renting.

Purchase, rehab, rent it out and then refi with a commercial mortgage.

They may be able to finance you at a low down payment if you have experience, reserves, and FICO as long as the 65% of the value can support the entire purchase price  I wasn't saying 0 down, but the concept of full return of capital. 15% land purchase cash. in columbus land is let's say 50k we build a triplex for 350k which is very close to 15%. small entitlements, reserves required, etc whatever lender asks for. multifamily sells for 200k per door in our market over 4 units, we are pushing the values up. first ones we are working on because of rezoning, etc but it's a full refinance on 6 month seasoning and do it again. that's the scenario that I was outlining. we do it in the urban core of Columbus where new construction trades at $325 a square foot or more for higher rents and higher equity. we could still put more units per parcel in columbus. these are all infill I hate Lehigh acres. overbuilt, no infrastructure, no commercial drivers or asset.

Here's my storyIm 25, and I bought my first property last year in Vermont with the intention to repair and rent.

I have some rentals and have more depreciation than what they rent for so if I was able to classify the new construction as passive income, I could then use the "losses" from my other passive investments to help offset the income.

(Quoted about 8.5% rate on a DSCR loan, and budgeting 10% of rents for capex, 9% for PM, and 5% each for vacancy and maintenance) After-rehab rents would be about 1350-1500 based on comps.

Make sure that you get the rentroll and the bank statement to verify that those tenants are paying that amount of rent.