I am living in Salt Lake City, Utah.

So I have no input on how to do it as room rental only.However, for tenants:Think traveling nurses, entertainment biz workers, students on practicum.For creating your forumulas:I generally tell people to look at 9 months to determin annual revenue. consider marketing costs, deep cleaning costs (especially if pet friendly), and minor maintenance/refresh.Ton of "info" out there, take it all with a grain of salt.

Hey Kevin - totally get the frustration, and its a good learning lesson on why you have to take what's presented on social media with a grain of salt.

Check all toilet flappers - Those can cause a tremendous amount of water usage if not sealed properly.

But listen, why would they listen to people who live real estate every day, who have spent 10, 20, or 40 years buying, selling, financing, real estate; when instead they can listen to a paid actor fronting for a marketing firm out of Las Vegas or Salt Lake City selling $40,000 “mentorship’s”?  

Prices have cooled off a bit compared to the peak, but demand is still really strong in areas close to Salt Lake, Utah County, and some of the up-and-coming suburbs. 

I would make sure your loan officer isn't trying to extend the term of the loan by a year.I'm not a lender and don't have a ton of experience on this topic so take this with a grain of salt.

If anyone here is in Utah (especially Salt Lake or Utah County), I’d love to connect.

I'm just getting started, working towards a small multi family property in Salt Lake County.

Always take the square footage and the wholesaler's opinion of ARV with a grain of salt.