I have just started my search for looking at a duplex to rent out. I don't real know much about the industry, other than a couple of online articles. The unit I am looking at is asking 196k with $3900 taxes. According to some calculators online mortgage would be about $1000-$1200 a month. Right now it currently has two rrenters with a rental income of $2000, which doesnt meet the 2% rule is over 1%. Wasn't sure what you guys thought about the place and any knowledge would be helpful. Also the place has recently been completly renovated and wouldnt require much work. Built 1980
Do you have a realtor to comp the property and the rents for you?
Maybe check Rent-O-Meter for a general rent guidlines to see how close it is. Are the tenants under leases or month to month?