* House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

Seems like a lot of folks prefer SFH, but I bought a Townhouse because it seems like it is easier to maintain (HOA covers external, landscaping, and neighborhood amenities).

I would say maybe look into a 203k HOA loan great loans for people our age. you would be able to do a value add and not pay your mortgage until the updates are done up to 1 year.

Ltrs will always be around barring hoas.

I would also be careful of HOA/POA dues. 

Pro:- it’s trained to look for safety risks, expensive repairs- within minutes analyzes entire disclosure packet of hundreds of pages- works as another set of eyes that looks for things you should be watching out for, likewise of a companion - great to quickly learn of property conditions from the actual documents while on the go (given that you still follow your own due diligence process)- beta is freeCons:- still in beta- can’t share report directly unless copy and paste- only core documents (home inspection, pest, roof, tds, hazard, solar) are supported but not regional specific disclosures like hoa- estimates it provides aren’t accurate- not mobile friendly 

There will be some customary fees that hit seller side, but this is may vary state by state.On both buy and sell, you will have things like wire fees, maybe underwriting fee, etc, but these tend to be minimal.Holding costs: HOA, if you have one.  

For me, the later option sounds more reasonable, cause the exteriors are covered by the HOA.

Insurance and/or HOA are high.  

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).