So I decided to take the leap despite being Military and stationed overseas (my goals are to build a business enough while still being Active Duty military...this will allow me to enjoy retirement in 9 yrs).  

If I pay 2 more points ($6750) to buy down the rate, it will take me 3 yrs to break even, which is acceptable to me since I intend to hold for at least 10 years.   

Hello Everyone, I am new to Bigger Pockets, I am 22 yrs old and soon to be U.S Navy vet!

Hello Everyone,I am new to Bigger Pockets, I am 22 yrs old and soon to be U.S Navy vet!

By the way my heat pump is about 4 yrs ago but I don’t think that makes a difference.

But if in 25 yrs, they don't renew, I am stuck with land.  

I still have issues but I have managed my own before and do not enjoy the property management aspect of owning rental property.Before my wife and I starting buying rentals again 2 yrs ago, we interviewed property managers before we ever looked at a single home.I will give you an example of why I utilize a property manager.

Let’s assuming the subject property will cash flow as a rental and the current financing is first, no second, a low interest, fixed rate loan, no call or balloon, long term loan (15, 20, 30 yrs), and a loan is not financed by a local bank and, you have cooperative sellers.

You can check my profile for yrs investing and # of units.

I plan to take a 190k loan for 30 yrs at 3.75% interest rate, in which case my monthly mortgage will be $880.