The tenants are all lovely people, though they seem to be concerned about 1) the condition of the garage, 2) the fact that the windows all let in cold air (by the look of them, they're probably as old as the building) and 3) the lack of landlord response to their multiple other (small) concerns about the property.

If you do choose the REI route, if a crash happens have your son take a couple roommates for $400/month, Air BNB it for the summers when school is out, put up solar panels, figure something out. 

I would add a small airconditioner to the port hole.

The increased/inflated supply of money leads to larger/higher prices - sort of like how increased air in a balloon leads to a larger balloons - as people can "afford" to borrow and therefore "afford" to pay more.On the other hand, there's not much money at all available to borrow to rent! 

@Naomi Bjerk yes this is an especially good strategy for vacation rentals, turn key rentals, Air BnB and commercial property. 

(*The marketing costs, and the commission splits, don't necessarily have to be split equaly between all team members...the trick is to make it a win-win).These numbers are plucked from thin air, but these are the types of things you'll want to keep track of to see if the ROI is there. 

I am Air Force veteran, separated early this year, live in San Jose.

The inspection has another discrepancy as it says baseboard heating in the house but it's actually a warm air system, so I'm starting to think he didn't look at the HVAC at all.  

And if you add in other major mechanical things...it might run up to $10k...also on the lower rent range you will need to have a higher percentage because while a roof's cost will vary by the size and class of the property...things like heat and air and water heater and appliances are relatively fixed therefore being a larger percentage of your rent.

I am enlisted Air Force.Given the above information how would you try to get financing?