It comes down to finding the best level of protection that fits your budget.When I sit down with clients, I always discuss (1) their personal assets, and (2) what their current investments portfolio and other business ventures are before discussing (3) their future goals.

I wanted it and there was not much in the market then that fit my criteria and budget.

There are some areas in the Midwest and Southeast that fit this criteria.

@Dav PohoteThe answer is it depends,Currently you may be much better off at 15 years due to where interest rates are but when they were 3-4% you could have invested the delta between A 15 and 30 year payment and achieved a return better than the interest you were savingIt’s also a personal preference where people like to have less debt and sleep better at night - I am 100% with that being the reason to do 15 %For example for us our primary is 30 year at 3% and we have a rental that we 15 year at 2.5% and reason we did 15 year on it was it matures the year my son will go to college and we did not “need” the cash flow during this time so we were like let’s have it paid off and then it’s cash flow can be used for his schooling or sell it to pay for school.Lots of things to consider and each situation should fit your needs

The increased flexibility gives you more control and enables you to select which repayment option best fits your needs.

Again, you can typically walk through and see that what they've left is junk they couldn't fit in their car.

  #2) The propertyDetermine a buy box that fits your return goals.

@Tom ServerI think that the 203k is not a good fit for your scenario because you are buying the property with cash and the 203k is a mortgage loan that includes the purchase price + the rehab costs.

Hey Larry, I agree with Rachel and River that $250 cashflow target is a common rule of thumb but it's not a one-size-fits-all approach.

Creative deals" only "fits" when the seller "needs" it.