@Scott GarvinWhere are you getting a mortgage so low ?

There’s deals out there so don’t be too attracted by the low asking price.

hi everyone,i am in the process of analyzing a duplex, and I've just learned some new info about and I'm wondering what I'm missing about the implications of the following details:-duplex is tenanted already; duplex is priced quite low for the neighborhood, so interior condition is unknown-property is a duplex via an addition. it was originally built as a sfh.

Im sure its a safe area in terms of finding renters but i assume the rates would be low to suit the students who live here!

A rule of thumb I use for the Texas market is $14/sq ft to get it rent ready or low end flip, $18 for a medium flip, and $23 for a higher end flip.

Relatedly, the estimations of closing costs seems low - it seems the consensus is to budget 5% of the deal cost for closing costs.

For $50/month we get to deal with rigorous screening of less than ideal tenants, constant calls from tenants, damage to the property every time we turn around because people do not care about things in this class of property, Section 8 and the government (who doesnt love to deal with the governement), maintenance requests because none of the plumbing is updated, codes enforcement because the tenant decided it was a great idea to put a couch in the yard, and last but not least angry owners wondering why their pro forma isnt being met ("I was gunna get a 75% COC on this thing").Now this is a pessimistic view of what it is like but PM is a pretty thankless job, especially in low end properties.

Your numbers seem low to me, but I'm from NY so I expect to see much higher property tax rates.

You couldn't buy a 5-unit with a low-downpayment owner occupied loan.

This is where a low low low ball offer is appropriate.