Some of the pricier house rentals around here in the suburbs command at least a few grand a month rent, and have granite kitchens/bath, stone tile floors, new carpet or hardwood.

If you charge a lot more than the area commands it is more likely the buyer will not be able to get a loan.

If you buy some other time of year, you would want to have tenants already in place.At least in this town, student housing didn't really command a premium price.

Originally posted by "**********":Mark,Our 2nd house in LAH 1420 sq ft box, commands $1,700,000!

You must speak in a commanding “This is mine” sort of voice.

The tenants stayed but I raised their rent from the $700 he was charging them to the $900 that the market commanded.18 months later the tenants moved out, I completed the purchased, sold for 25% more than I paid.2.

If yes to both you dont have a problem...And use embedded commands when speaking to her...something like..."

I have had one tenant burn out a ceiling fan because it was so dusty that when it was cleaned enough dirt went in the motor to stop it from working.We use Home Depot life time warantee paint so if a tenant puts holes in our walls it's a 25 dollar fee per hole and if it's scratched or dirty they are charged regardless of how old the paint is because it's warranted as long as I own the home and it's not damaged. ( The tenants are told to hang items on the wall with Command strips ) I use them in my own home and they work well.Our laminate floors carry a lifetime warantee as well so if there is wear or damage from not caring for it the tenant is buying a new floor.

The good news is that over the next 3-4 years, you will get to know the property in and out and know it's quirks and also be able to scout out a good property manager in the area (since other folks in your chain of command and sphere's of influence will also be in the same situation as you. -- Own and then move and will need to rent their places out.)

Bigger pockets Community, My first deal just went down the tubes b/c my parents who where my cosigners have "too much debt" (they're investors) according to wells fargo. I was also reduced hours and am now a part tim...