The letter also states the total non-rent items currently owed by the tenant, such as accumulated late fees or repair charges.Also very important, the tenant states they have no unresolved issues with their current landlord, except as listed in a space provided, and they have no current plans to cancel their lease under the Service Members Civil Relief Act or for any other reason. 

Some other factors to consider - How long are you planning to hold this property?

Overall, you're spending $25k in extra costs and a monthly pmt that's $500 higher to keep $50k in your bank account. 

There are so many different wildlife creatures to see, that if you are an animal lover, you could spend months seeing new animals every day.  

Connect with The Hard Money Co, Mach1 Lending, MGM Capital or Plan B Homebuyers. 

It's a decent tool, but as Greg mentioned, I'd definitely plan for a worst case scenario and make sure it cash flows at the highest interest rate juuuust in case. 

Also, a lot of sellers might be more willing to finance the down payment if they know you're committed and have a clear plan for the property.

I and my spouse are planning on buying a small multifamily and house hack.

And also that rates are just going to continue to be an issue, so it's likely something to plan for in rent rates and/or overall investment costs. 

If youre saying condos are trading at $220 a square foot....Id be planning on a value of $110 per square foot on a co-op.