@Russell Brazil Lol, the buyers agent went on vacation (to Spain) while this was going on.

Start with the monthly nut that you need to cover: those are your numbers and they'll be different for everybody. 

Let’s pretend neither of those things happen and you nail it dead nuts on.

Now 3 years later appreciation has gone nuts and it’s now worth $275K and I refinanced $130K out for something else and it still cash flows $500.

We only lend our own money and I know that most other lenders think we’re nuts.

Quote from @Russell Brazil: Where does it end?

Quote from @Russell Brazil: It's called fraud by inducement.

and prices here are nuts.

@Russell Brazil How are they all peddling the same property? 

The difference in rent is about $300 with the lower rent being in the less expensive home that has not increased a lot in price, the other was almost double the price and has more than doubled in price (that market is nuts)...so I get a less rent relative to the price of the home, but the increase in the value of the home more than makes up for it.