.: Self-proclaimed “Short Sale Queen” and associates indicted in federal mortgage fraud schemeTuesday, December 3, 2024For Immediate ReleaseU.S.

Listen to the audiobook “The One Thing” to help prioritize your time and maximize your outcomes.The cash flow may get wiped out but the tenants are still paying off the mortgages and rents will still continue to rise, so it’s not all bad!

The only figure I can’t determine is the monthly mortgage because interests fluctuate and the down payment.

Most things in relation to the rental are deductible - Mortgage Interest, Taxes, Insurance, Repairs, etcIf you are unsure of what is deductible, you may want to consider working with an accountant.

I believe what I have in my case is a "wrap around mortgage".

Also instead of doing a 10 year mortgage, you should have done a 25 or 30 year mortgage. 

By purchasing a multi-unit property, living in one unit, and renting out the others, you can cover your mortgage payments and start building equity while gaining rental income.

Also, the home owner most likely has a mortgage and receiving a large amount of cash and then not spending it for 3 months can be more challenging than you’d think.

Should I live in this house after and buy more property with the 100k or rent it out move and try to buy more property, the only problem is my area is so expensive a new mortgage would be more then what im paying now.

@Jerry Velezif a property is owned outright with no mortgages, debts or liens on it, then it can (potentially) be purchased on seller financing.