Also, often condos have higher property taxes (sometimes double) than if you bought an equivalent fraction of an apartment building jointly with other investors.

So I don't know if we're equivalent to 2004 right now or 2006.So I'd agree with @Frank Patalano that you just need to be careful and scrutinize every deal.

Equivalent of a lease agreements?

It is the equivalent of paying cash for an auto at $5,000 then saying give me an additional $300 a month indefinitely!

Test driving a new car without a driver's license would be the equivalent of a potential tenant spending a night and making dinner in the property before submitting an application. 

This is roughly equivalent to our monthly cost of living, minus expensive vacations.

Reserves For three (3) - and four (4)-unit properties, the borrower must have personal reserves equivalent to three (3) months’ PITI after closing on a purchase transaction.

But that is not equivalent to their product.

@Marci Zhang  We manage many properties in Schaumburg, Villa Park, etc and we use the suburb equivalent to what Brie sent the link on.  

Going back to the same interest rate question, if you cash out at 8% and just invest the proceeds into something cash equivalent - let's say a CD - at 5%, the only thing that needs to happen is your rent covers the delta.