Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

In particular know exactly what you negative equity position will be and how long it will take at conservative cash flow numbers (near 50% of rent going to expenses other than P&I).  

Tax deductions / write-offs should be a second concern.There are some rules that you need to follow to treat a short-term rental as 'active'(non passive) income which would allow you to offset it against other forms of income such as rental income / wages.

It is important that you keep the investment for a medium to long term.

Old post, but in the short-term the world changed with the recent passing of HR 5376.

Let’s break it down:Loan: $300,000Base Rate: 8% (P&I: $2,201)Buydown: 1 point ($3,000) lowers rate to 7.75% (P&I: $2,145)Monthly Savings: $56Break-even: ~54 monthsHolding long-term?

My only question is what took me so long to hire the bookkeeper?

@Robin Simon I completed a refinance with my credit union at terms of 3/30/75 @6.85% I will have the renwal in 2026 and hoping rates come down a little by then.

HELOC= short term useFixed (first or second) = long term use like a down payment.  

How long would it take you to do that manually?