For context - after 7 years we are averaging over $700/door… but this is after many financial moves to get us there… but even starting out, the  $300/door was, and remains a good goal post to judge a deal by. 

The borrower will be responsible for $3K at closing while the lender will fund the remaining $12K for the interest reserve.

You want to put everything in writing and be very clear about expectations and responsibilities.You also need to verify the remaining tenant can afford the rent.

I have $55K in the stock market at the moment and plan to save (and grow) the remaining in the stock market until I have enough to pay off the entire mortgage. 

While Section 8 appears to promise "guaranteed" income, the reality is quite different.Section 8 typically covers about 80% of the rent with tenants responsible for the remaining 20%.

Indeed, where we pay a REALTOR commission, we are initially under water, but look at the long- term probability the rental will remain in the system.

"The market can remain irrational longer than you can remain solvent."

Will finish the remaining courses this week.  

You'll definitely get the long term appreciation in the San Diego market since our supply levels remain low which helps to insulate our market here, but it will be hard to cash flow on immediately unless you use one of the above strategies I mentioned. 

However, in the inner ring suburbs that I live in, there are quads everywhere, built in the 1920-1960s, generally, and they have remained in demand for nearly a hundred years.