There is a $340 difference but if you had to put down a 15% down payment that means you would be putting down $30,000 more at closing which would be left in the property unless you held it long enough to do a cash out refinance ($200,000 x 15% = $30,000).

If you are so close to the university and the rental is setup appropriately you should hit your target.

(Property Meld for one)--- Owners often think a PMC can just enter a tenant's home to make repairs, but don't really understand the potential legal issues of entering when a tenant is not home.--- Owners don't understand the percentage of maintenance appointments tenants miss!

So most likely I will pay cash or close to it for her new 55+ community home and our budget is 450k max.

With 400K my initial thought is doing a BRRR/Flip that is close enough for you to be hands on.

How keep it legal of course but more importantly how to do if effectively.

A little over 15 years ago, in the late spring of 2009, I was a brand spanking new real estate agent coming off of a miserably failed real estate investment venture. I was also a catering server, restaurant server, an...

Whatever I do, I would need to do with a HELOC—effectively financing 100% of the property (down payment and closing financed with HELOC, rest of purchase financed with a mortgage). 

Being close to a MARTA bus stop is always a good factor in assessing whether or not the property should be held as a PadSplit.

I’d prefer to keep this close for now, but if you’re interested, let’s connect privately for a quick call to explore how this could drive real value together.Best,Manuel Moreno Jr.