Our current mortgage terms include a late fee after 5 days, so they’re already paying extra each month and have to split the total monthly payment up between 2-3 payments when they get their pay check.

In addition, you've got your HELOC on your primary you'd have to be paying back also.

This would pay us back less than we were owed but still enough to come out whole.We all tried to negotiate a short payoff with the second-position lender, who foolishly demanded payment in full.

So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.

If you're unwilling to charge a common fee, I wonder how you're going to handle a problematic tenant who is late on rent or responsible for paying the plumber to remove a kid's underwear from a clogged toilet.How will you conduct a credit/criminal screening without an electronic application?

Got an equity line of credit and borrowed from it to pay cash for the property.

If you think you can manage a mortgage, taxes, insurance and the upkeep of a home while paying your student loans then buying is not  bad idea but if you think you will overstretch yourself renting is nto bad either.

Determine at what percentage of completion you'll pay for work done. i.e.

Being part Alaska Native, there was incentive where they would pay your down payment and we utilized that tool!

I use all the rental cash flow to pay these loans off asap, then repeat.