So essentially depending on your timing you will need (2) things in your favor to do that lower rates, and enough equity.In some cases having an interest only rate is not a good thing because it can and it does create comfort which can lead to bad habits of not paying the principal down.

The renter paid for his mortgage and he was essentially able to live in the house for free. 

My tips essentially boil down to the compounding effect of a lot of good decisions over a long period of time/slow and steady wins the race.

Safety come when the société is balance in his social-economic aspect.A lot of opinion in this subject sound GREEDY AND ÉLITISTE. 

I could essentially be flushing $1000 if it turns bad.Could be a toilet seal, could be a pipe busted under the slab.

If I do I will essentially be house poor and shackled to this mortgage for the rest of my life. 

Essentially no income details are required and the loan is based off of the collateral of the property and income, calculated using the active rents, appraisal rent schedule or even STR income or projected income.

If a property appreciates at least 2-2.5% per year, I know that my PPP is essentially paid for if/when I refinance/sell. 

Developing a solid financial plan is essential.

We use docusign to send a reservation agreement which essentially makes them sign the house rules.