I will sit down and digest all this info ......

At the apartment complex where I worked (Fort Collins, CO) we required a larger security deposit for non-citizens because it is more difficult to look at credit/eviction/criminal history.

My @$$ left almost 3 years ago...Also, we have NO 9% plus income tax, and all the other commie taxes your legislature imposes, gas, air, carbon, plastic bag, cow farts, etc, as well as giving every dime you give to them in taxes to SJW programs, I hope you enjoy writing your actual property tax checks next year.

Thats a cash cow strategy here with the rents coming in at almost double market rents.

@Cindy Szponder @Huiping Sheng - I do not see how going through the trouble of a 1031 and then finding another money making property would really be worth giving up this cash cow.

That's about the right amount of leverage for a solid, wise, well researched (including future cap ex and realistic vacancy expectations),  proven cash cow BARGAIN buy in a GREAT NEIGHBORHOOD!

After that, payments in excess of the required monthly payment go directly to principle and have an immediate effect on the next months payment, ergo the cash flow changes in your favor.You can 'tune' your capitalization to the level you're comfortable with and then just let it ride.Personally, as a Buy & Hold investor and title QC into a Living Trust for our beneficiaries, I took an inheritance and threw it all at the balance and created a massive cash-cow. 

Just because its in its own room doesn't mean the basement can't fill up with CO.  We

Nobody here sells their duplexes, because they're cash cows.

So here is my first deal, not an amazing cash cow, or super screaming deal but I see it as a good deal for my long term goals.