So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

Brick v.s siding and covered v.s no converted parking also make a large difference and are items that have to be adjusted for. 

At that time the lender gave you a fixed loan for a certain period of time with so much down and a certain amortization schedule.The debt service coverage ratio example.At DSCR of 1.25 means for every dollar of mortgage payment the NOI can cover 125%Your current lender back in the day might have done say for example a 1.10 DSCR ratio because absolute NNN and investment grade so perceived risk to them was low.

Sounds like such a cover up.

(Be sure to factor in vacancy, PM fees, maintenance, etc in addition to PITI)•Do you have additional reserves to cover unexpected expenses like long than expected vacancies, high turnover costs, or major repairs (e.g., HVAC or roof replacements)?

My wife and I would remain renting in our current apartment and we could easily afford to cover the mortgage indefinitely if/when it would be vacant. 

One that I don't think has really been covered is that most people are going to buy and/or sell a house, at most, perhaps 3 or 4 times in their lives.

With an FHA loan, you can finance a 2-4 unit property, live in one unit, and rent out the others to cover your mortgage.

If something pops up in the first two weeks, then I will cover it just in case we made a mistake and as an offer of good will.The stray cats are not your fault or responsibility.

Guests normally don't like to be asked to cover damages that they caused and sometimes give a lower rating because we ask them to cover it even though they have COI that insures my listing.So I'm exploring the event guest screening option that they could put down the security deposit as well. 1.