I pay $875 (including principal, interest, taxes, and insurance) and rent it out for $1,625.

paying mgt any landscape/snow/utilities?

A longer timeline will make paying the extra 2% now more attractive.

Have them pay a week or two before they arrive when they are past your cancellation period.

I’m trying to figure out how I can pay myself and buy another property.

Show Financial Stability- Proof of Income: Military pay provides a stable and reliable income source that banks value.- Creditworthiness: German banks assess your financial standing, so keeping accounts in good standing is critical.4.

They are essentially giving the property to you at fair market price, so someone is going to need to pay taxes on that fair market price.

The most important rule is to have the cash flow of the new property be able to pay all its expenses, mortgage, AND the line of credit back.

It's properly leveraging (not over leveraging) the asset that pays off.  

Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs.