So, if you bought  a house for $300k and wanted to sell it 2 years later you would need to sell it for something like $600k to break even and cover that HUGE mortgage interest penalty.

@Dustin Horner 10 units probably won't even cover PT.Unless you plan to scale to 50+ units, you're probably better off hiring a PMC.

Before you close, can the rent from your buddy and the midterm tenant cover your mortgage, taxes, insurance, plus a bit extra?

I would recommend finding a way to continue to practice in some capacity, at the very least to cover living expenses.

We agreed but only after they covered cleaning costs and left the property in move-in-ready condition.

They cover west wood and other west side areas but there are certain places they said they would not cover such as college hill.

This is a conventional loan where they also cover your PMI (private mortgage insurance).

If so, that should be covered.

One of the things we do and recommend to our clients is to purchase a home owners warranty to cover all of the mechanical, electrical and plumbing compenents.

Obviously the HOA is keeping values in this neighborhood down because an owner would have a mortgage plus another $715/mo for the HOA, which only covers use to a community center but nothing else.Besides holding costs, is there anything else I should be concerned with for a flip on a land lease?