Hi Kris,It sounds like you’ve got a great property under contract with a solid entry price, and the only challenge is the interest rate of 7.125%.

@Jay Hinrichs @Jonathan Greene @Nicholas L.you have all helped me to really consider what type of challenge / path I want to get into, and all this information is excellent.

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

Challenges?

That shows real estate can be possible for anyone; in my opinion, I know everyone has unique and challenging situations, but in principle, anyone who can follow some basic budget fundamentals can save up enough for a down payment.Grateful BiggerPockets continues to bring more people into the industry!

If you supply the machines, I recommend increasing rent $100 or so to compensate for the purchase and maintenance. 

Major employers like JP Morgan and AT&T are pushing for these policies as well, and specifically in the D.C. region, Amazon HQ2, the Washington Metro Area Transit Authority, and the Executive Branch of the government have required all employees to return to work 5 days a week at those locations.Fundamental Lack of Residential SupplyAnother interesting driver of demand is the fundamental lack of supply of housing stock due to the fallout effects of the 2008 housing crisis, slowdowns in housing construction during Covid-19 primarily in 2020, and a good amount of 2021 from supply chain issues, labor shortages, and rising construction costs.

Challenges?

I dont see how that can withstand a challenge. 

I will be living in the guest house, while renting out the main.Both units are without washer and dryer units, my question is, do I supply them in the main house; or let potential tenants figure that one out?