Keep your retirement money where it is because if you need a mortgage or HELOC in the future, they are going to want to see reserves

Do make sure you keep enough in reserves should a major repair come up.

Also, as a side note, if $14k is all you have (or will have once you get your refund), you're not leaving much for repairs/reserves.

They have reserved our industry for later this year.

They weed out the bad guys, then they e-mail stats to me and get final confirmation from me on the tenant they want before the lease is signed.

That is how you protect yourself if there is damage or arguments.When you hand out applications, it should say on there somewhere that you reserve the right to accept multiple applications and once and reserve the right to accept the best qualified tenant.

Different banks have different overlays.Long story short: If you meed the minimum credit score and the DTI ratio criteria, you can get a mortgage (provided you have sufficient cash to cover down payments and closing and any other cash reserve the bank requires).

Plus I am so ready for change and a challenge in my life.I am so happy I found this site, it really feels like a Godsend and confirmation that I am making the right choice and sacrifice.With this said I look forward to forming new bonds with great and knowledgeablepeople.

Property has been owned by this couple since 1994 - most likely paid off, but I can easily confirm that if needed.

I was afraid of "unloading on a newbie" and leery of the situation as well so you confirmed my initial worries.