I dept free minus these mortgages.  

I'm an investor and also a licensed mortgage broker.

This is my first personal mortgage so I'm trying to learn the game.

I've done a couple of direct loans, but for the most part, I work with a mortgage broker who brings deals to me.

The mortgage should be around $1,600.

. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

and if that doesn't sound worth it to you or sounds like too much work... then i wouldn't buy.and i get that NY is expensive but you probably have cheaper markets within an hour or two. 

@Chris LinIf you were to include Equity growth (from appreciation and mortgage pay-down) what sort of returns would you have? 

I don't know your living situation but if your paying x,xxx for rent or a mortgage and instead by living in one side and renting out the other you will be paying y,yyy instead and y is less then x that's great, especially if you can rent out your primary residence and make income there too. 

Hi everyone, I’m a Canadian that relocated to Texas and currently own two properties outright (no mortgages or loans).