The initial benefits are depreciation and loan principal pay down, then comes appreciation, and finally cash flow builds up to create a reserve and profit.

Purchase price is about 280k I would put 20% down so loan for 224kTaxes are about 5k / yearInsurance is 2800 / yr escrow or 2500 in fullMortgage rate 7% credit score 760+Mortgage is $ 2150 ish. +/- 50$Current rents are 1000 per side which they say is low because it's paid off for my family member They say market rent is easily 1200 per side I would likely inherit a tenant on one side at 1000/mo , older retired single guy So if I house hacking and pay 1200 and raise their side to 1200 it's would cash flow about 150$ not including maintenance so.

Where would I find the information you suggested to not file Ohio state taxes due to having a mortgage loan?

She is asking for 600k to pay off a loan which leave s a million of equity. rents are way below market and vacant so makes it interesting to say the least.

At that point not only will there hopefully be appreciation, but you are guaranteed loan buy down, which means if you truly needed to hit that 20%, you could invest less dollars to do it.

Too large to be a normal convention loan, but not big enough to be tasty for an investor that wants some size.

Required good credit, adequate reserves, full doc commercial loan with a personal guarantee.  

It would be a shame to pay interest on the entire amount, if only part of funds are deployed.Thanks in advance for any tips on things we should look out for in loan terms, refinancing, etc!

Conventional loan with 25% down.

-I want to get my next property in the next 1-2 years if possible, but don't want to touch my current properties loan since I have a 2.25% APR.