To Buy or Not to Buy

[Kenneth Littrell]

I am a new investor in Texas. I was recently approved to buy up to a four plex with my VA Home Loan. I have been looking at duplexes and have run into a big question. I can do a 0% down, 30 year mortgage at 3.75% and pick up any number of nicer duplexes that require no repairs. The only cash out of pocket for me will be closing costs.

The question. My father in law keeps suggesting I find something that cash flows on a 15 year mortgage but I cannot find anything at that price range here. Would it be a mistake to buy a property that only cash flows with a 30 year mortgage?