Gotcha. I did not realize it was that bad. I feel for your friend — DEFINITELY not a fun situation to be in.
May I ask how you came up with the -$900/ month? My math might be orrible or maybe my assumptions are wrong.
I assumed 2bed place. 50k down / 249k purchase price = approx. 1,500/ mth + approx 200 HOA= 1,700/mth.
2 bed room rentals in NP – 1100 to 1500 per month. It’s still a loss, but not as dramatic as 900. (To be fair, I don’t know that I would be ok with any loss, so I am not making a judgement here).
Are you factoring in loss due to wear and tear or something like that? Or, am I missing something else big?
