And you’re trying to replace $8000 in salary.

As to holding costs, I only expect to be rehabbing for 2-3 months, after which the rents will pay for it. 

There's usually no emotion involved and we're just trying to get to a meeting of the minds, and I know the buyer's expectations are being managed.

Current expectations of future value are “baked” into real estate prices.

Expect the fees/points to cost about $3,500 since that's the minimum fee most lenders would take. 

This .90% rule in general works as a backwards math for 75% of gross rental > PITI.Hope that helps walk through the scenario and strategy expectation.

Personally the only people I know buying 4% caps are all cash holding for retirement, waiting for equity growth on back end,etc.If buying low cap with expectations rent growth and values will go up,up,up especially if the investment is a large part of your worth then that would not make much sense.How much are you trying to deploy for down payment?

I travel a lot with my salaried position and having rental properties states away got to be a little much at the time.

I'm researching BRRRR now but I expect she would reject that idea too for the same reasons.

It is an extremely strong seller's market.For buyers, expect multiple offer situations - IF - you can actually find a property.