Investment Info:Single-family residence buy & hold investment.

How does the butcher block hold up? 

Isadore, the primary flaw in your idea is a common one among new investors.

Is this a good idea?

I fix and flip and buy and hold in Cleveland only.

If you are moving every 2 years, it is unlikely that buying is a good idea. 

As for an ARM or IO, if you plan on holding for a long time a 30 year fixed amortized loan at similar if not better rates then you are quoting might make more sense. 

BTW: don't feel too bad, as many owners do a poor job of screening PMCs before hiring one - except of course, focusing on the lowest price:)COMMENT: If PMCs screened tenants the same way most owners screen PMCs...Regarding whether or not to pursue tenants for collections:1) I'd be less worried about this if an eviction is a matter of record, so other landlords hold them accountable.

Remember to calculate your holding cost for taxes, insurance and cost of money.   

Not sure if anyone has done this in the past and has better ideas, thanks!