But you shared a lot to information and im taking it all in. I

In one of my markets I invest in I could buy a house cash for $200,000.

Choosing which market to invest in is going to depend on your goals whether if you're looking for more cash-flow areas or appreciation

It's reassuring to hear it's not a rare nightmare scenario I'm in. I

A good example is that the area I live in is Mishawaka, IN right next to South Bend.

Understanding the intricacies of the area they’re building in is crucial, as it reflects their intentional selection process.

Specifically, what research results told you these were two good cities to invest in?  I

What other places in the area do you think would be good to invest in? I

Interest only for 1 year than P&I kicks In.  I

The only time I'd say it's an okay idea is if either: The area you're investing in is expecting so much appreciation that you will easily profit off that (watch out for mortgage interest though...the appreciation needs to be higher than what you pay in that and expenses to make it profitable)You have some specific reason for wanting to do it- family ties, future home, major long-term hold, etc.Maybe I'm forgetting another one, but those two are all I have for now...