I was in the Navy for 11 year i got in march and now real estate is all i do.

My husband is active duty Navy.

.$175,000 Loan gives me an $850/mo mortgage (30 yr. at 4.10%)Money TalkNow lets make some conservative assumptions:5 Occupants: $750/mo rent X 5 Occupants X 12 mo = $45,000 gross incomeAfter taxes (assuming I pay 35% taxes):  $45,000 X .65 = $29,250 gross incomePay 1 year of mortgage: $850/mo X 12 mo = $10,200/yr mortgagePay property manager 7% of gross income: $45,000 X .07 = $3150/yr property managerPay a maintenance $300/mo for lawns/repairs: $230 X 12 = $3600/yr maintenanceNow for total profit: $29,250 (after taxes) - $10,200 (mortgage) - $3150 (pm) - $3600 (maint)Total of: $12,300/yr after all is said and done ($1025/mo).ReinvestingI plan on putting all of the money back into it, so: $850/mo (mortgage) + $1025 (reinvest) = $1875/moTherefore: The building will be totally paid off in less than 10 yearsBackgroundI'm in the Navy, so I'll be deployed for months on end without communication.

Having worked for a mason for a few years after getting out of the Navy, one of my main jobs was to fix exterior brickwork.

. - If they are offering an interest only HELOC - home equity line of credit the monthly payment formula is usually the average daily balance during the month X Interest rate /12 = interest only payment per month - some HELOC's require you to pay principal and interest so you may want to ask your bank how their monthly payment is factored if you're monthly payment is 1% of the balance out standing (Navy Fed CU) on a 100,000 HELOC then you'll be payming 1000 per month but if interest was only 4.5% annually then your break down would be: 1000 payment (375 interest, 625 principal) - terms on helocs can usually be changed at any time there are clauses on the mortgage note that state (in my experience) that the lender reserves the right to modify the HELOC at any time so you may want to be careful.

I'm retired navy myself.

I have not found a site that works so we have coupled old-fashion with new "cheap" technology.1) They used navy fed and I an account with navy fed.

My brother in law is retired Navy.  

Navy Seabee veteran.

@sharon Sweeny I am active duty navy so I work on my ship from 06-15 everyday so I call during my lunch which is 11-1230 and from about 3-5 sometimes 6.