extra income of $1500 or so - has anyone done anything like this before?  

Why not move somewhere that has proper employment so you can earn and save money?

Why not invest that money in notes and earn 10 percent?

You can usually have a larger down payment amount that is non-refundable and allow you some extra cash with a new option.Good luck to you!

I know it depends on what it looks like inside, but does this spell disaster or extra future expense?

Then you'd only need 3-5% down....some lenders are even offering 0% down but there is a bit of an extra fee.

Sounds like a lot of Extra Strength Excedrin in your future if you go that route.

He argued it'll be paid down quicker, but I argue that I can just make extra payments on the principle if I want that and I won't need to worry about a commercial loan eating my cash flow either because it's my option as to whether I want to pay extra or not.

. 💰 property earnings before BnB. 

Hence avoid earning ordinary income!