Or if you want a lower monthly payment, then do the 20% down.You can also negotiate credits with the sellers to use towards your closing costs or rate buy down.

Do you understand the added complexity, work involved, and costs? 

Way better returns on the cost seg than you'd ever cash flow from an LTR. 

That may increase your cost or limit the coverage you can get.The Year that the following were updated (either partially or fully) would be good to know:- Heating systems- Roof- Plumbing- electricalSome companies will not write properties with systems that have not been updated.As long as you are living there, the proper policy for a 1-4 family is a "Homeowners" policy.

Determine cost to renovate. 

Evicting them, even after purchase, could be a lengthy and costly legal process.

Maybe that is gross profit when you sell it, but what about the cost to build it?  

Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee  

Do you feel like it has enhanced the productivity of your assistants to a magnitude that's worth the cost?

Option 2: Electrician recommended mini splits - said 2 units should do the trick and would cost around $6-$7k.Heating system 2 is forced hot air oil furnace specifically for the 3rd unit.