Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:• Purchase Price: $215,000• Down Payment: $43,000• Loan Amount: $172,000• Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):• Monthly Payment: $1,573.39• Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):• Remaining Balance: $78,556.96• Monthly Payment: $1,541.18Additional Conditions:1.

That being said real estate investing is typically a long game and with just 2 years under your belt you’ve just started.

Based on your estimated monthly "passive income" of $2,532 that you'd pay an investor, I'm estimating the investor would contribute around $380,000 to the acquisition, is this correct?

Are you not necessarily denying him based on screening criteria - Some landlords make it a requirement to view the property prior to letting the applicant apply.

And given syndications are a marketing game more than a real estate game, it begins to give you real marketing content to share with the world to help drive new leads for future deals.

Don't put a high list price based on what you want, needs to be based on solds

Just about everywhere in the US uses some version of IRC for its base code and then makes some changes to that as they feel necessary for their locality.

 @Deepak Malhotra based on your sales price, I assume this was also sold many years ago.

In other words, I can afford the house with or without tenants. 

Typically, 8- 12% net for OOS investors based on cash purchases.Good luck