House hack is a great way to start. I did a duplex, where I lived, for my first deal a long time ago and it was a very good learning experience (and a little profitable).
In my experience, most agents aren't going to be helpful here (some exceptions).
You can ballpark these things after getting some data:
Rent: use the sites you think you're future tenant will use to find you as a landlord (Zillow, Rent.com, a big property manager in your area, Craigslist) and look for similar places in similar neighborhoods. The rent will narrow down to a range and that's where you'll be.
Property Tax: in most places there's a county tax + a city tax. In Charlotte, for example, it's something like .85% for the county + .45% for the city, or 1.3%. That means for a house the government assesses as being worth $100,000, they hit you with a $1,300 per year tax bill. You can get this number straight from the county government website, property by property.
Water/Sewer: Best way to ask people a few people in the area "what's your water bill? how many people in your home?". I ballpark this number in Charlotte to be around $30 for the 1st person, +$15 per additional person.
Insurance: Don't forget this one. Get a quote from your current insurance company on a property similar to what you want to buy. In Charlotte, I usually pay around $600 for a $150k house down to $450 for a $50k house.
Do your due diligence on getting ballpark numbers, but don't sweat getting exact estimates on every property. You'll likely run the numbers on >100 houses before buying one. Running down these exact numbers every time will drive you mad.
@Chris Sellers thank you so much for the info! I appreciate the help, that will make things a bit easier for me. Hopefully I can get these numbers down to a science soon. I’ve done so much listening, reading, searching, and dreaming about REI but very little actual work up to this point. I’m finding this is more important than a lot of my “education” haha
Glad to help. You’ll learn way more from your first deal than from all the books out there. Enjoy the experience.
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