Let's say at 6% over 30Yrs will be about $960 per month(Principle/Interest) with the remaining  interest only portion $40K costing roughly $200 per month. $1500- $960 + $200 IS $340Cash in your pocket after everything roughly $1500-$1160-$340 which is not bad for a 100% financed deal(INFINITE RETURNS)Now, If you ran this analysis on a 1% deal as @Nicholas L. mentioned you will undoubtably end up in the red each month.All the best!!!

Also the idea that occupying a 'piece' or 'portion' of property allows for AP is flawed.

It’s not about buying whole properties or even shares in a REIT, but instead purchasing rights to the income a property generates.Here’s how it works:- Property owners keep full ownership of their property but can sell a portion of the income rights (like rent or a share of appreciation when the property’s value increases).- Investors buy those income rights in small amounts, making it possible to invest in real estate without needing a ton of money upfront.- Payments to investors are automated, so rental income is distributed directly without much hassle.What I found interesting is that this solves a couple of common issues:- Property owners can raise cash (for renovations as an example, or any other need) without giving up control of their property.- Investors get access to real estate cash flow with lower costs and no landlord responsibilities.- The whole process is simplified—no co-ownership legal headaches.I’m curious about the pros and cons of something like this.

My largest challenge with that is that my W2 doesn't pay me enough for me have to a large portion of down payment saved up...unless I saved more aggressively than what I do now.

I’ll agree with you in general but that is only a portion of the reason.1.  

I believe Alexandria city allows it but portions of Fairfax county do not allow it. i would go option 1 personally. 

So if we were to assume the loan, we need to take a second mortgage to cover the equity portion of the loan.

If they're paying for overages, they'll reasonably expect a refund for any unused portion of the utility allowance.

@Mark Forest the comments above that you’ve lost, or will lose, all or a significant portion of your investment may or may not be true.  

That said, I've seen many of these carriers are pulling away from habitation exposures (non-renewing a good portion of that business).