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You are suggesting that a 1% return per month is huge. There are those who suggest that one should assume (a rule of thumb here) that you should assume expenses of half the rent. 6% per year in this c …

It was fully depreciated. So its value was zero. You don't account for it, you just add the new one and depreciate it over its useful life.

You have no capital gain, just recaptured depreciation, which has its own special tax rules.

TLDR: Yes, it can work just the way you propose, but at a cost with every small service call the typical small landlord can do himself turning into the bill of a pro dispatched to the apartment. Yo …

Why not run the numbers with a fixed 30 year mortgage? The 30 year rate is still about 4%. The money saved by going 5 year arm is too small compared to the risk of rates rising over the next 5 years a …

Real Estate is all local. In the United States, I can show you houses so high the rent on them is less than 1/3% of their value per month, eg. $1M House renting for less than $3500. I can also find 3 …

You believe they have checking accounts. I'll answer based on that assumption. They value their relationship with you highly enough (and would like to not risk a late fee or worse, eviction) that th …

This feels like a variation of Paying “rent” to romantic partner that owns the house, and I'd suggest reading the question and all of the answers there. Keep in mind, the rent one must charge a tenant …

Section 8 tenants have an agent assigned to them. You said your share is now $500. This implies the agent approved this apartment. Something seems wrong here. I am a Realtor, and have rented sec 8 ap …

Let's look at the potential outcomes - With tenant - The buyer wants to live in the house. Buyer needs to wait until the lease expires, or if tenant is monthly, evict the tenant. This can be off-put …

How is the current mortgage payment broken out? I have a mortgage on a rental property with a payment of $775, but $600 is principal. If I were at breakeven on a sale or a bit underwater, I'd be bette …

There are those who are knowledgable in real estate who offer rules of thumb: Don't pay more that 50X the rent for the house. Here, $972 x 50 is $48600. Assume half the rent goes to expenses. So fro …

I'd suggest you run a credit check on the new tenant. If you reject based on this, they have little to argue as this is an objective number. It's no guarantee, but a high credit score says a lot. Edi …

No. The starting point is what other rentals are going for in the area. Supply and demand dictates a fair starting price. From there, you can adjust up/down for the fact that you know this person. ( …

I am sorry to say, you are asking the wrong question. If I own a rental that I bought with cash, I have zero mortgage. The guy I sell it to uses a hard money lender (charging a high rate) and finances …