I had lots of direct debits in my account and I never missed any payments.

Its all debits and credits.On the other hand, being able to have a great understanding of the complicated real estate tax structures and being an expert in that field is going to 1) Give you a much better understanding of the true benefits of real estate, 2) Set you up to be an integral part of other peoples teams.

If I remember correctly it was something like 43% of your income could go to your monthly loan (less all cards, mortgages, other monthly expenses), a family member had to use debit cards for 4 months instead of credit and pay off the car, to increase the loan capacity.

(Dont know if this is true) Although I have been perfect on all my accounts and my debit card and what not.

By the way,your cash to close for closing costs, pre paids, PMI lump sum, etc. including your down payment, will be about 10%.

oops.back to above:One of the rentals has an auto debit to pay the mortgage, the other does not, so I write a check for one, and have to talk to the bank and change the routing number for the other so it will come out of the correct account.

Title Insurance is like a pre-paid legal fee.

You'll have $3-4K in closing costs, loan origination fees and prepaid expenses (taxes, insurance), so you'll need about $33-34KRent: $1900Expenses: $950 (50% rule)NOI: $950Payment 1: $710 ($120K, 5.875%, 30 years)Payment 2: $223 ($21K, 5%, 10 years)Cash flow: $17/month, $209/yearCash on cash return: 1.6% ($209/ $13K)You're paying too much.

Hi @Brent Washam any prepaid retainer fee to invest in a fund is a big red flag.

....also what about pre-paid escrows for property taxes and insurance?