I am in the process of settlement on my 1st property in 1 week. i have a 5% down conv loan thru a credit union bank. this a duplex and is a row house. i plan to live in one unit and rent out the other. the seller is also selling the duplex property next to it.

Of course, I'm out the deductible (2k).Incredibly, one week later, another 6ft diameter oak fell across the neighbor's front yard (this time, it damaged HIS house) and took down the power lines to my rental property which ended up causing just under $2000 of electrical work and tree removal expenses for me. 

The all-in podcast this past week just had a great discussion on this topic

Will be giving updates in the next 3-4 weeks. 

Renting in these areas with a roommate or two will likely be less expensive than PITI in the 'less fun' suburbs.If you do decide buying when you move down here, I'd take a few trips and spend a week or so down here to help narrow the search.

The first week they sent me a few properties on the MLS but since then it has just been me sending them properties I'd like to see and them arranging the showings.

-We are closing on a primary residence in a couple of weeks that has a cottage on it that we will begin short/mid term renting upon close. 

All good until today, (2 weeks after signing new lease,)  he calls me and says he miscalculated his expenses, thought he could afford it but now he cant ect ect.

I hear similar stories probably about every other week here in Chicago, and I have had some situations happen to me during one of my early-on flips.Whatever you do , NOT take the low guy unless you are 100% certain they can complete the job.  

I am closing it in next 2 weeks.