If you can afford to float the property for a few weeks without tenants, start high and work lower.

Could they float the building for a bit (most)?

Somehow I made it to Toronto after floating Asia for a few years. :-)@Tia Terrena - Re: Local Phenomenon, yes that's very true.

Principal Balance: $385,000Rate: Prime + .75% floating, with a floor of 4.75% and a cap of 7%Term: 20-year amortization, with a balloon in 5 years.

As Dave Ramsey often says - the only boat that doesn't float is a partnership.  

If anything, I would say the BP community is pretty good at speaking out against unrealistic expectations.If I had to pick a specific party responsible for floating the idea that you can get rich quick by doing a few easy flips, I'd point the finger at HGTV and the 'gurus' out there.But mostly, I believe there is always a segment of the population who will latch on to any fairy tale that promises huge rewards for minimal effort.  

Are you thinking of like banner ads?

Your mortage will be around $3000, will leave you with $2000 at minimum, bere in mind you will still maintain your day job to keep you floating for an additional 2-3 years. 2000 *3yrs = $72,000 at minimum.4) important to note with an FHA loan you must live on the property for 5 years, but does not limit you to have renters in addition

It probably won't cashflow for the first few years, but the first house would float it.

Used to was that if all the switches were left in the right positions and they still conduct current, you could tow a sunken submarine to recharge its batteries, raise it if there's no air pressure t blow the ballast and run the pumps to re-float it.