I’m considering renting my house

[Jason Roe]

I’m considering renting out my house, but I want to make sure it meets the 1% rule. Do I apply the rule to the current amount owed on my loan or the current value of the house? Thanks 🙏

[Jaysen Medhurst]

Almost impossible this will be a good rental, @Jason Roe. At that price point, you'll have to rent for ~$5k/month. Problem is anyone who can afford $5k rent can easily afford a $500k house, so your tenant pool is incredibly small.

I say sell and re-deploy the capital. $300k can get you into a pretty good MFR.