With an 8% mortgage rate, they would pay more than $650k in interest.One major problem for both buyers and owners beyond mortgage rates is the rising cost of property tax and insurance.

Though I'm in sure what the trends have been in TN over the last couple years.

Instead of evicting them, i was thinking is there some way that I could rent it back to him for very cheap (mainly to cover just the taxes/ insurance) ie 2k a year rather than the going rate of 2k a month for similar properties.

I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...

(NY counties are generally quite expensive)Do you have home owners insurance to cover fire or other damage?

L&I has labeled both of them as “unsafe,” meaning the agency found them to be “dangerous to the life, health, property or safety of the public or the occupants of the structure.”

Many insurance companies do not allow adding a landlord as additional insured.  

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

My biggest conundrum now is I want to be my own GC because even when I play with smaller numbers they’re still out of reach for me to be able to attain this goal and afford the monthly mortgage with taxes and insurance.

I’d love your input on whether this deal could appeal to investors and how best to structure it.Property Details:Worth: ~$300,000HOA: $273/month, Taxes/Insurance: ~$170/monthCurrent Rent: $1,880/month (long-term); next tenant advertised at $1,950/month.Mid-term rental potential: ~$2,400/month (I haven’t tried this, but it’s my estimate).My Financing Idea:Large down payment: ~$125,000 (This is my priority to reinvest elsewhere).Seller-financed balance: ~$175,000 at 4.25% for 30 years.Buyers take over taxes, insurance, and HOA.Questions:1.