Anyways, I'm curious about the rents, and what they would be running it through the 50% rule.

The VA has no title seasoning requirements in order to cash out using market value.This is a huge difference from conventional 1-4 lending because there are many restrictions for title seasoning (how long you have to wait after you acquire title to property).So how this could be utilized is if you were a veteran looking for a home and purchased a property for 70% of market value with cash (has to meet VA standards/owner occupied only) you can immediately cash out to 90% of market with proceeds going back to the borrower.Just a quick way that a vet who is also an investor can leverage their equity potentially in other investments to meet their goals and or financial freedom objectives.This would allow the veteran to obtain money around 4.5% (6.08% Annual mortgage constant) If you could reinvest at or above 6.08% annually then the vet could end up being able to live for free if the other investment cash flows sufficiently.

If I leave you with nothing else, some rules I live by are don't buy a buy and hold and count on appreciation, buy it for monthly cash flow.

With that being said, it comes down to the usual rule of "Location, Location, Location".Merrillville is better, but also has some better areas than others.I have holdings in both areas, so if you want, connect with me, we can discuss the areas and the strategies.

If you were going to put a rule of thumb to work I would say it is probably going to be hard to make competitive returns on your investment in such a high priced market.

If so then the tenant has to adhere to not only that programs rules but the housing authority's rules as well.

Amy,Anything more than -20% equity is a good rule of thumb where it is past the point of any type of sub-to or creative financing deal is possible.Larry Chafe

However, as a rule, I would price the flip to sell and clear that hurdle quickly if they next deal is really worth pursuing.

There can occasionally be some cash flowing properties in the pine hills area, although many of those homes do not meet the 2% or the 50% rules preached on BiggerPockets.Regardless there are some opportunities for duplex investing in Albany.

If your tenants are somewhere else w/o these restrictions, then never mind!