Well I'm glad now some of these other landlords might can take a breath and get some faith again because alot of them had about gave up on the ramp program. 

I think I will breath easy after the first year.

The mother is the cosigner and does not want an eviction filed under her name so said she would pay it (I'm not holding my breath however).

It is not *bonkers* to expect someone to stay in the place for 5+ years since that is the norm under REI, largely because they have top notch management that keeps tenants happy.You need to take a deep breath before writing in a public forum with such vitriol.

@Patricia Mendoza ok deep breath…the biggest mistake I see people making from this point on is thinking this guy will fix it/change.

No evictions, no searching for new tenants, no CAPEX, no building inspectors breathing down your neck, no Fair Housing "testers" or lawsuits, no clogged toilet calls at 2 AM, none of the infamous "3 Ts" (toilets, termites and tenants), etc.The trade-off is that you don't own the building and therefore don't have the appreciation in the real estate value. 

Although, be aware that in MOST cases, the PMI still applies for the first couple of years.....and at least until you have 20% equity.And yes, the lower the mortgage payment and longer the terms (30 years) the more breathing room you'll have as a landlord and potential for cash flow.

All of these units are owned by investors, so the cost of entry is typically cash or 20%, so everyone was holding their breathe waiting to see if something would bend.

At what point do you actually breathe and enjoy your results?

Getting out of one is relatively inexpensive if things do improve drastically - don't hold your breath!