How does an investment work without the 1% rule?
Kind of wondering generally how a SFH rental investment will work if the 1% rule cannot be met. I know it's not a concrete yes/no rule, but I don't see how the numbers work in your favor after that.
Homes in my area are at 220-260k for a cute, basic 2 bedroom. It may also need 10-20k in rehab. That plus 20% down plus closing costs, it adds up rents may be $1200, which barely breaks on just the loan.
Possible solutions just move farther out of my metro area?