We run calculators on what you can expect for expenses beyond your mortgage, I don’t like surprises.

STR can be exciting from many angles - Cash Flow, Appreciation, and best of all.. having a place to visit while renters pay down your mortgage (even near the beach!).

I listed it for a month, then decided that cashflow would be strong with the current mortgage.

My monthly mortgage payment will be approximately $2,100.Comps in the neighborhood are currently renting for around $2,600/month, so my plan is to live in the property for 1–2 years before renting it out.

The actual penalty varies but it's often a step down or if a 5 year prepayment penalty term, it will be 5% of the original or unpaid mortgage balance if refinanced or sold in the first year, then 4% in the second year and then on down (the exact penalty varies which is why I mention both the original and unpaid mortgage balance.

I'm excited for the opportunity to be apart of the community with BP, I reside in the state of Virginia and started my investment journey many years ago at 22 doing fix and flips, I stopped when the market crashed in 2007/2008 and didn't like the way the market looked and I left the investing world, I became a mortgage loan officer, and then processor and later underwriter and learned the backend of the conventional lending world.

We still owe roughly $900K on a 3% mortgage.We’re planning to retire abroad and are weighing two options:1.Sell the home – I already have a buyer lined up, so this would be a straightforward exit.2.Rent it out long-term (furnished) – While I don’t think the rent will fully cover the mortgage, it might come close.

Perhaps slightly higher from an alternative lender but definitely not from a credit union and expect much higher fees.Two were Managers in the Mortgage division and the other was a Loan Officer.

The property is rented out for $3,200 per month, while my mortgage is $2,100, and the HOA fee is $268.I explored the option of taking out a second mortgage.

Is it better to have a mortgage on a rental or a primary?