Instead of keeping them, I'd look to sell them and buy something more suitable as a long term rental.If you want to know why I have such a strong opinion on this, just google the following: - HOA Special Assessment - Florida Condos 2024 - search for news on the new laws - Zombie Condos

Any other pros or cons to this method of investing for at least getting started? 

I'm planning to do that for each of my two sons when they move out and go to school. 

For calculating IRR, use the total cost of acquisition—this would be the mortgage balance plus the 50% buyout equity and any closing costs.Regarding refinancing, assuming the loan under the Garn-St.

Low out of pocket cost. 

Quote from @Michael K Gallagher: This is my 1,000th post, and its taken me about 7 years to get here. 

We are sorry you feel this way however, we can still help you out.

It worked out well for me.  

What about Debit Cards attached to a checking account?

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