@Daniel Lopez you are asking the right questions, but here is something else first; and what I am about to say, I am sorry, may sound a bit harsh, but it's not meant to be.To be brutally honest with you, I think investing in real estate with no-cash/no-credit is generally a bad idea. 

The term you mentioned may be too harsh for borrowers and you may only get those desperate borrowers.

And while I don't think we will crash like we did then, it doesnt mean that the market cannot turn and you cant get out.Sorry to sound harsh, just don't want you to make a decision without hearing another point of view.There are much better ways to invest in real estate in my opinion.Hope this helpsRobert Webb Coldwell Banker 

That leaves no margin of error.Not trying to be harsh, just expressing what a big mistake you would be making if you bought this property (for $700k).

We are unfamiliar with the harsh winters and my wife is a little worried about ownership in this environment.

If I'm not mistaken you can still send notices to pay or quit you just can't evict until the moratorium is over, then you get in line for eviction court, harsh but you can't rent out your property for free.

Landlords need to wake up and see this harsh reality for what it is .

I hope I haven't come on too harsh but you either need to be a business person or hire a management company, whichever will give you peace and will make you profitable.Also, you are now Landlord and need to change your title.Keep us posted and have a great day.

It really benefits those in harsh rent controlled areas.

They get so upset when one of us sounds harsh on here.