Mortgage is 30 yrs at 3.25%, full payment incl ins and taxes is about $2300/mo. 

@Craig DesnoyersAt 30yr notes, the math changes, but the results are similar.At minimum payments it would take you about 6.5 yrs to pay it down to 78%, so your PMI costs would be $2964.  

Guess I've been do this all wrong for 18 yrs.

After 18 yrs I deduced my exposure was less that 1% probability and ultimately threw the S-corp and LLC overboard as excessive cost to maintain.

I find that its hard enough for two students to want to live together in my 2/1 units.In my area, 1/2 from the university is far, my units are less than a block from the school.Expect high turnover, likely every lease term (for me thats 1 yrs).  

No, I moved down here 15 yrs ago....got tired of the cold weather.

At this rate, you would eat up your 401k in around 13 yrs and a bit (as per my rookie calculations).If you really want to do this, I would think a Roth 401k is a better option.

In the 5 yrs, they have never been late on a payment or had any issues.

@Brit Foshee@Samuel Sedore Thanks for the opinion...yeah, I have not received any complaints and they haven't been late on a payment in 2-yrs...I will sort it out when they decide to move...if they do.

Last time I used them was 3 yrs ago...and for the young folks and Millennial's and in this fast paced high tech world 3 years is like 100yrs.