The mortgage should be around $1,600.

@Frankie Paterno In most places you will likely find that your $1.2MM will go much further with existing built as opposed to developing.

Any other expenses are using up funds that would otherwise be sitting in your checking account to make a mortgage payment with.

They has NO idea how to underwrite a commercial mortgage loan.

If the HELOC is from an existing rental property (A) but funds are used for rentals (B and C), the interest must be allocated to B and C, not A.This post does not create a CPA-Client relationship.

It wasn’t a massive deal—our expected assignment fee was $10,000—but when you’re growing a business, every opportunity matters.Everything seemed to be moving smoothly until the title search revealed a major roadblock: the mortgage discharge couldn’t be cleared because the person who needed to sign off was deceased.

Mortgage, HELOC costs and terms, etc.

Ouch@Brett Synicky the scenario was if I could find a house and pay for it using the IRA then that would become the mortgage.

Deduct mortgage interest, property taxes, travel, and operational expenses.

Everyone will tell you it’s great to get started early, or you can just move after a year, but in the current environment in our region the rent your property will generate after you move out will likely be less than your mortgage, if you are tied to the area and feel confident you want to stay in whatever property you buy for 3-5 years go for it, if you want flexibility rent and throw that money into and index fund.