Updated about 6 years ago on . Most recent reply
First time home buyer
I have an interest to purchase a single family home 2 bed 1 bath 861sq feet. The asking price is great with new upgrades. Neighborhood grade C.I can qualify for an fha loan. Upon my analysis of this property, I realized it will not be great as a rental property due to the price to low rent ratio. The upper limit of rent I can ask for in this neighborhood is $1000. Therefore, my second option would be to purchase the home than use its equity to purchase a great deal on a rental property that would yield great cashflow. Any thoughts....suggestions?