They pay for the privilege

The landlord cannot take on your family's risk as his own - which is what he would be doing.My suggestion is to find a distressed home from a county land bank, purchase it with your own hard-earned money with the assistance of a lender, become a property owner, and enjoy all the privileges and responsibilities that come with it.Good luck!

I had the privilege of getting in the home, the high bidder, unfortunately did not and has no idea what they’re in store for.

I have different privileges than most people for the site, so I want to make sure this isn't happening anymore.

Add up the high initial cost of a "turn key" property, the property manager's 17.5% and the 21% you're paying the city for the privilege of improving their city, and if you get quality, pre-screened tenants and nothing breaks, you MIGHT net a couple of hundred bucks a month.

What a privileged position from which to study a market and buy!

@Anthony HurlburtBased off that website I think my case counts as one of this violation if I were to proceed with this tenant: "before or during the tenancy, set different terms, conditions, or privileges for rental of a dwelling unit, such as requiring larger deposits of some tenants or adopting an inconsistent policy of responding to late rent payments"If I require a larger deposit because they are a student, would that be a violation of fair housing act?

@Huw McDonaldConsidering that you are buying this for investment and looking at the numbers that you have provided, the answer is simple: it is not a good deal.You’ll be significantly out of pocket every month for the privilege to be a landlord and you’ll subsidizing the lifestyle of your renter and exposing yourself to significant costs down the line if your tenant is a troublesome or trashed your property.For the same numbers to make same, you’d would have to make a much larger down payment.Assuming that you are paying full market value, (which the numbers tend to suggest), it makes no sense to go in that dealIt could make sense to go into a deal like that if the property is selling at a discount and you’d have some equity built-in right after purchase.Maybe there is a significant upcoming development close to the location that you are buying that would make your property more desirable.If you have those facts and know that particular market well, then ok.But recognize that what would be do is essentially speculative “investing” than value investing

My intention is that you benefit from the information outlined in it by increasing your cash flow, and that I am able to have the opportunity to demonstrate my expertise and knowledge so that if and when the time comes for you to make a change regarding your commercial property, I will have hopefully earned the privilege of competing for your business."

Does the HELOC provider give 'check-writing' privileges, and you just use this 'check' to fund the down-payment on new property?