Most PM companies have a requirement where the tenants income needs to be 3x the rent per month.There’s more to it than that - but it’s a lot to type out.It’s a popular strategy for those looking to get into STR/MTR and can’t afford or can’t qualify to purchase a home themselves. 

With plans calling for a 3/3 unit and 2-2/2 units and similar triplexes trading north of 750k this is a home run investment to keep in his portfolio.

The RTP area, comprising cities like Raleigh, Durham, and Cary, is an attractive option for several reasons:Strong job market and population growth, driven by the tech, research, and education sectors, ensuring consistent rental demand.More affordable home prices compared to Charlotte, allowing for better cash flow from rental income.Areas like Cary, Apex, and parts of Raleigh have newer construction townhomes/condos that fit your criteria.Potential for long-term equity growth, as the region is seeing steady appreciation.Some recommended areas to consider near RTP:Cary (especially newer developments like Amberly)ApexNorth RaleighDurham (for slightly lower prices)Charlotte is also a solid option, though it may be more expensive:Strong financial/banking sector driving job and population growth.Higher home prices but potentially higher rents as well.Newer townhome/condo developments in areas like Ballantyne, University City, and South End.Robust long-term equity growth potential, but higher entry costs.

Any tips to help it go through, seller doesn't want to repair or do anything.Thanks in advance!

Hi Calvin, That sounds like a smart strategy for your townhome in Temple Terrace, which is also where my primary home is located!

The property already had septic, water, and electricity from a home that had been demolished.

Also, an agent will need more time than your typical home insurance to work on this for you.

@Michael Smythe Great tip!

BECAUSE THE CITY DOES NOT ALLOW STR UNLESS THE HOME IS YOUR PRIMARY RESIDENCE!!!

It may only apply to home run investments.