Under contract - help checking my numbers

[David Zimmer]

Hi all,

I am under contract (400k) on a split level house that has a great opportunity to be a 1/1 apartment and a 3/2 house upstairs. This would be my first investment property and a house hack at first. The property taxes came back at a frightening number (456/mo) and I wonder if people could check my work and let me know if I'm ignoring anything? 

I think it could average 1500-1600 via Airbnb on the apartment, and 2500 as a 3/2 upstairs but it is hard to be certain since I am new to the space. Perhaps the tax saving could sway me more in the favor of continuing. My earnest money deposit period ends tomorrow.

This purchase would also allow me to begin renting my current townhouse near the hospital and downtown as a STR/MTR, so it helps me gain experience as well. Thanks so much.

Report:

https://www.biggerpockets.com/...

Screenshot of Zillow listing:

[Nancy Bachety]

Cross check what other hosts in your area are asking for a night. Look up VRBO and Abb as a guest would. What are they charging, what are the reviews, what would you do differently, what would you need to provide, etc. You didn’t provide any of your projections like costs you’d expect to pay to furnish, what your insurance premiums would be (different when you rent nightly), what is your loan interest rate and payment (not zillows), what did your inspection report reveal, etc so be sure you’ve at least done that leg work. Do the same for your current townhouse you’d be renting out too. Where I’m from your property taxes are relatively low.