Or are you planning to put 100% of the risk/cost of vacancies, furnishings and tenant nonpayment on the owner with you having 0% risk?

do you know how to read building plans or permits?

Perhaps you have coverage for the replacement value BUT the insurance company when calculating the replacement property uses modern building materials like drywall but your original house had plaster which is much more expensive.

Talk to your banker about your plan.

Like any financing strategy, due diligence and proper financial planning are key to making it a successful solution for both parties. 

I’ve learned that it is a very expensive ordeal but having a good lease helps remove the tenants faster.

At $2450, it will cover those expenses.

Our biggest expense was replacement vinyl siding, which costed around $40K.

I would be planning to do some things before actually making an investment.

It could save you thousands of dollars of expense and time in the long run avoiding testing every two years.