If you think you can only get $200/month extra from the rent... that's not a lot of room for error, should something go wrong or get broken and needs replacement.

But sometimes you can't be sure, so you ask questions that have a slight error in them (give a rent that is incorrect, and lease start date that is incorrect for example) - a friend will just say that the errors are correct, but a landlord will comment that the facts are actually different.That is how it is done.

Don’t get caught with your pants down if you move ahead with it, definitely use a lawyer AND lender with extensive experience with RTO / Lease Option, no rookies.

But there is a LARGE margin of error.

I'm a rookie investor currently "house hacking" a duplex.

Being a complete rookie, I'm open to suggestions...

I was already a rookie landlord when I met my hubby and once he saw the returns he became more open to investing himself.

A rookie at it's finest, I know. 1- the numbers looked really great but the property needed some work before I can rent it at an amount for the numbers to work.

I've seen a scenario where the PMI payment was out of compliance due to disclosure errors, and as a consequence of the post-closing audit the borrower was notified that the monthly PMI payment was being reduced to $0/mo.

I always hated that question as a broker and would just say no clue.. as it does not matter.under stand the inquisitiveness of it.. but to me it screams rookie buyer..