Arizona Rental Property
Hey BP family! I have another question for you all and I'd love to hear some insight on some more outside views before I make my decision.
I'm about to buy a property within 5 miles of the major university campus and the property is going for 110k. It's 3 bed 2 bath and incorporating all of the #'s plus PMI and Escrow due to qualifying for an FHA loan. With my down payment as well, my monthly mortgage payment will range from $670-$700 a month. I have 2 renters on stand by ready to go at it for $400 a month so with their portion, I'll have the rent and then some. I still work full time at my job while attending school full time, so any excess cash flow after paying all other bills will go to improvements on the home. ($2,200)
What are some other things that I should look into before proceeding further with an offer on the house?
Anything else I should focus my money in other than making improvements whle living for free?
Thank you for taking the time to read this, I hope to hear from you all soon.