I'd note you're most likely going to do the whole process over again, so don't be surprised if your lawyer doesn't accept your 14 day notice and will send their own.

A second problem related to “over leverage” is a lack of contingency funds.  

You can find some absolute MTR gems near smaller hospitals that aren't so obvious but ultimately, housing supply in the area is something I'd say is more important coupled with your amenities.

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

I saved up the cash over a 2yr period.

I own several single-family rentals (SFRs) with Section 8 tenants, which have built significant equity over the years.

Why are you not amortizing over 30 years? 

Could seller finance (not recommended) to reduce initial burden and spread it out over time

If your AGI is over $150K, passive loss limitations may apply.Setting up an LLC is straightforward but consider state fees, tax implications, and liability protection when making your decision.

Hi Charles,This is probably the fastest way to the poor house, mainly because, in Japan, houses are like cars as in their market value depreciates and goes to 0 over time.