And I would love some passive income or at least someone to pay my mortgage until we can pay it off maybe.

The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.

I don't know how much you will be paying a property manager but add that in.

Hi Adam,The seller pays the seller commissions and (usually) covers the buyers commissions as well so you shouldn't worry about those fees.The 10% vs 20% I feel like is a personal opinion.

Nothing illegal about doing that, but if caught, the lender may call the loan due and if you don't correct the situation or pay the loan off, they willstart mortgage foreclosure.3) You could also go the HELOC route to tap the equity in the home, but the 12-month owner-occupancy will also apply AND the interest rate on the HELOC will fluctuate with the Fed Fund Rate.4) You could do a cashout refi as an investment property, but that will be at an interest rate 0.5-1% higher than owner-occupied rate.Suggest you meet with 2-3 lenders to explore your options about the above.Once you have access to funds, recommend you buy a 2-4 unit with 20-25% down. - You can buy owner-occupied, live in one unit, and fix up and rent the other unit(s).- If you're handy, recommend buying a property in the worst condition you can tolerate.

You do not even know where to buy or how much to pay.

If you hire someone typically they are the ones providing this information, but if someone is paying you, then yes they need this information for tax purposes.BTW - I would say your SS# has been hacked so many times and is on the black market already this is why we monitor ours through other parties or just lock it down at experian and other agencies if you are concerned about it.

This is a family property for which I will be paying 3/4 of the most recent assessment value.

What you use is what you have to pay back.Cash-Out Refinance Cash-out refinance this gives you cash from the equity you have built up in your home.

I will go see samples but figured you folks could give a definitive thumbs down if this is just today's version of cheap linoleum.