Again, discuss NOTHING else.Also, double-check with your agent/broker for any other laws that might apply in your state.Good luck. 

That's how I'm seeing it as well but you could always check with a local RE attorney to double check

I'm leaning toward buying a single or double family home with the intent of renting to others - not sure about short or long - i guess it depends on the deal and how it goes? 

I could show you the pictures of the second house I bought here in San Antonio where the walls were torn from foundation issues.

Off the bat, a $100k double on the east is not going to look too good.Shoot me an add, happy to chat.

I don’t know the rest of your financial picture but if you are a realtor and have $1 mil cash to put into real estate and no other assets I would diversify a bit into other investments.

Secondly, I can invest the $7k I’m saving elsewhere and double or triple the money I would use now to purchase another home in the near future.  

I will ultimately spend $35,000-$40,000 more on finance charges when looking at the total picture (not paying the $50,000+ pre-payment penalty) but was able to complete the transaction with $320,000 less equity.

We would be creating a new LLC which the lender seems to think is OK, but I'll double check on this point.  

Quote from @Sebastian Bennett: @Michael Plaks Check out this forum for a good laugh...It was not a laugh, it was a double facepalm.