Per the chart below, we typically have a huge run up every decade.

We consider it at 125% of face value.So we treat $1000 of tax free income the same as $1250 of W2 taxable income.Something else you could consider, that we as lenders do not consider, is that her retirement income is probably more stable than typical W2 income.

Attached is a detailed report of the real estate market nationwide.  

@Matt Katsaris - it depends on the area, but typically you are right, the MLS is not a good source for rental comps at all.

My home was one of the last to actually get a true 2 family C of O our of hundreds of homes in the developmentI was told in the beginning to NOT rent the apartment out because it can be a liability if the tenant finds out that there is no C of O, and then I can get in trouble if they report it.

The Denver Post article you referenced reported approximately 4,500 burglary crimes in 2016 for a population of about 680,000 people (census bureau estimate for 2015).

The termite inspector IS the expert and his report should identify the problem, the remediation options and the price.

Hey guys, I've posted a few deal analysis reports on properties I've found on the MLS or from an agent OOSI've gotten a lot of "don't do turnkey" which I'm sure is good advice generally.My question is though, if I find and buy a property on the MLS after making lots of offers and getting what I consider to be a decent deal, and then I find a property manager to manage it... is that turnkey?

@Al Williamson @Duane Gunkler @Jaysen Medhurst Early on I felt very uncertain with this tenant, but after an application, credit report and talking with her in person I decided to go for it. 

For everyone interested in understanding the Memphis, TN market conditions I suggest subscribing to the Chandler Reports Below is their report for August:"August Real Estate Update Home Sales Memphis and Shelby County home sales continued to improve through the summer.