If we had hundreds of loans out, we’d have enough monthly income to aggregate the payments into additional loans—but we don’t.If you do this, your note will have to have a compounding clause in it, provided by your lending attorney.

I have a large lump sum saved in an investment account for down-payment and any additional costs.

You can attend all the REIAs and read all the books and sign up for all the conferences, and spend all the money, and you are will never really know you can do it until you do.Over 20 years in real estate in various forms and roles, action will beat out intelligence or education or even network 100% of the time.  

Additionally, a CPA can maximize child tax credits, rental property depreciation, and ensure compliance with reporting requirements for their 1099 income.

Additionally, it's a good idea to connect with a Property Manager early on.

I have the same dilemma and can't find a rock solid tool without spending 100's of hours building mine...much appreciated.

If I wanted to spend an hour doing it, I could probably put together a list of at least 50 cities where you can still buy housing for $100/sf or less.

But if I decide to pay an extra $2,000 per month, in addition to my (dropping month after month) minimum interest-only payment, when the loan is recast to principal and interest, the new payment will be based on the remaining balance ($396,000) spread over 25 years.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Any additional input would be great.