FY05 HUD Rent Limits
FY05 HUD Rent Limits become effective 3/31/05. Is it appropriate to apply a rent increase based on the percentage increase of the HUD limits? How receptive is the Housing Authority to these requests?
Never know until you apply for your rent increase. If it is too high, the housing authority will let you know.
See my lengthy post in the (very) recent thread "How to value a property".
take your rental income minus
mortgage payment
taxes
maintenance
insurance
utilities (water,sewer, trash, heat)
management fees if applicable.
If youve still got a positive cashflow, you should be ok. dont forget to take into account fixup costs, closing costs, etc..