I am putting too much down?

[Tom Lybyer]

I had to sell a long time rental. Long story. Suffice it to say it had to be done. We will get 119k after all is said and done. We fond a property. It is by no means a deal. Bidding war we went full price and was awarded the sale. $219k. Needs all the maininece a 30 year old house needs. Roof, water heater, front door has issues smoke alarms etc. etc. etc. In todays market we can rent it for  $1100.  Pi ti is $750 monthly. My wife wants to take 20k less on the loan and bring in $25k at closing to cover costs and bring the loan down for when the market swings and rents go down. That is what happened at the crash. Our other rentals were bought low enough to survive the crash. 

I do not like bringing in all the money. It does not seem like a good thing to do. We have been watching the market and prices are going up 5-10k per month. We do have a great location. It is definatly a very conservative buy so low risk. But no roi.  There is no turning back so there really is no advice to be had. But it is an intellectual discussion I hope.