[Calc Review] Help me analyze this deal
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Looking at this for my first purchase.
My struggle with finding a deal in this area currently is I m using an FHA loan which means it must be move in ready, using a low down payment, and homes aren't the cheapest in my area. I am not using it as an excuse, I just know it will be hard to find a great cash flowing property with my current situation. My goal at this point is to get my first property, it doesn't have to be a gold mine. I just want one that doesn't lose money, and wont be a big fixer upper project.
This would be an awesome first deal. It is two separate units. One Unit 3/2 I'd rent that. the other is a separate 1/1 I'd live in that.
I did 0% for vacancy because vacancy is so low in this area, deal still works with a vacancy amount
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I also did 0% for property management because I will be managing it by myself for at least the first few years. I am wondering if BP members agree...Its ok to calculate 0% for property management...I am assuming in the future, around the same time I want to hire a property manager I will be able to refinance and get rid of my PMI which will be a close expense to prop. mgmt. and the home will still be cash flowing.
Any thoughts on that idea and my deal in general.