@Brian Goss
I haven't done one, but from what I've seen you need to be HYPER vigilant with your cash flows and payments, for all your expenses. if you don't, you are not really getting the benefit. And, you need to keep doing it. Its becomes a lifestyle.
You REALLY need to be into that "lifestyle" since I believe your rate is higher. So, you have to "beat" that difference. Then, you need to keep managing your payments to actually have savings to make it worth while.
Maybe with automatic payment stuff and you can request changes to your credit card due dates, you can take as much advantage of the float. I haven't run any numbers on this, but I've seen similar setups and at some point you are really just ahead the month. So, potentially in theory if you get ahead by one "payment" you are already doing pretty good.
You need to be "ahead" on your income/loss, not "behind." Some people don't have financial situation, nor have the bookkeeping to track or maintain it.
Again, I personally find it very stressful just thinking about living that way for the life of the loan keeping the lowest daily balance possible. Just making extra monthly/periodic principal payments is good enough for me :)
Of course, you need to be a "saver," not a "spender." It IS having a massive credit limit/card...
And, what do you do after your 10yr draw period is up? And, beating 10% is pretty hard. Rather just get a fixed rate loan at ~7% and pay down principal.
Just my two cents. Happy to chat. Good luck.
