How does it compare to the other apartment complexes in the area?

It was a game changer for me when my traditional financing options dried up!

Also, when a buyer was buying single family home there would ask for a comp-based appraisal and a single family comparable rent schedule Fannie Mae Form 1007/Freddie Mac Form 1000. 

Look for borderlines, where the ghetto morphs into a comparatively nice street of houses, and figure out what anchors that area.

@Sean Morrisey you can do it the traditional way and find another property to 1031 it into or there are a few new options out there.

-Speak to local agents or other traditional lenders who may have a referral.Mark Ferguson goes over this in detail in his article here:https://investfourmore.com/2013/05/12/how-to-find-a-portfolio-lender-who-will-finance-multiple-investment-properties/Hope this helps and best of luck!

My husband and I are comparing possibilities where we live (Nashville, TN) to where we grew up in Indiana.

@Rangsey Chum These would be great questions for a mortgage broker, if you’re looking for traditional financing options.

Traditional banks I’ve spoken with will only give me a cash out refi based off the original loan amount and money I owe now.

If you are reporting this Income in the tax return, they would compare your financial with the tax return.