stephenson
Thinks s/he gets paid by the post
- Joined
- Jul 3, 2009
- Messages
- 1,610
I need to travel back and forth to Pensacola, FL to visit relatives a few times a year ... have noticed is a pretty good rental market in the $1000-1200 a month range ... I have an inexpensive house in Alabama that has been rented for 20 years with pretty good luck and was considering buying another in Pensacola.
Price around $120K and net rent probably in the $800-900 a month range - assuming management fees and some unknown-unknown maintenance issues. I can get a 3.25/30 on current home with an assumable VA loan, increasing my payment, but at least I know I can deduct the larger amount - I probably wouldn't be able to with a loan on the rental unit due to income restrictions.
Am I thinking right?
Price around $120K and net rent probably in the $800-900 a month range - assuming management fees and some unknown-unknown maintenance issues. I can get a 3.25/30 on current home with an assumable VA loan, increasing my payment, but at least I know I can deduct the larger amount - I probably wouldn't be able to with a loan on the rental unit due to income restrictions.
Am I thinking right?