possible You are thinking of buying a house beside the College which you will rent...
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possible You are thinking of buying a house beside the College which you will rent to students. You expect to receive $1,250 a month in rental income. Your real estate agent estimates that you will be able to sell the property for $250,000 at the end of 35 months. You'd like a return of at least 0.2% per month. What is the most that you should pay for the house, assuming that you will purchase the house today and receive the first (beginning of month) rental payment today. What is the most that you should pay for the property today? (Round to the nearest dollar.)
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