At the end of the day, you just have to eat that distance for a few years.

Eating up half your profits.When you run the numbers again, with all this considered, I think you'll see it's a pass (for me, at least).

Although, the taxes would eat you alive.

If your numbers are already tight, any of these issues can eat up a year or more of your cash flow.Just my 2 cents.

The caveat is that the interest monster eats every single month!  

These fees add up quickly and eat into your cash flow each month. 

Hard money rates can eat through your profit fast!

You do have transaction costs so that does eat into things some.

I don't like eating into cash flow as a rental but if I have long term appreciation value I think it's worth it to hold.

There are also other considerations - roof loading, wind shear, switching & wiring decay - that can eat into your profit pretty heavily.That said, you have two major things in your favor: density of usage and a favorable climate.