Potential First Deal. What am I missing here? BRRRR.
So, there is a duplex for sale near me that is listed for $485k. 100 years old and need of updating and rehab. I'm estimating about $75k in repairs (which will be financed through the HML). I'd use a HML and then cash out refi. I'm initially looking to house hack but these rent roll numbers are assuming once I move out and keep the property. I feel like something is off with the numbers using the Bigger Pockets Calc.
Can someone give me advice on this deal? Thanks so much.
Jesse
