Without specifics (monthly rent, how strong a tenant they are), this sounds crazy.

., you are in for a strong sales pitch.

I suggest strongly a budget.

I pretty strongly encourage you to have an accountant or Quickbooks expert who works with flippers give you a hand in setting up your chart of accounts and training you in how to use it.

He has strong W-2 income, excellent credit, a bank statement showing $108K in cash and only a $106K mortgage liability (held jointly with me on our primary residence).The underwriters are holding up approval of the mortgage because the $10K EM deposit was a check written off a bank account in my name only.

The 50% rule does NOT take into consideration appreciation and depreciation, which definitley affects the return.Like Jon said, if you can find any investment that fully returns my initial investment in 3 years, I will take a few.For me, any real estate investment that returns my initial investment to me in 10 years AND has a strong chance of doubling in value in those 10 years, I will take that all day long.

If your talking over one or two years you would need pretty strong price inflation if you are the buy, hold and rent type.

I worked on a similar level to this at Hines for many years, have strong ties there and would like to open a dialogue there and with others regarding this.

If you're putting 20% down and you can pay it off it eight years, you're definitely in a strong financial decision.

Leasing properties to a NP does not necessarily require me to have a long standing personal presence in that city/town.