The guy messaging me says he will be the primary person of contact and be paying with a credit card for payments.

I appreciate it, and I will feel better about my decision not to pay all the major holidays, get off the hourly wage payment, and offer bonuses when deserved.

Shawn - I would suggest you develop a pro forma based on the stabilized state of the property to understand if it cash flows once all units are occupied being sure to include all reasonable revenue assumptions (rents, vacancy factor, etc..) as well as expenses (debt payments, maintenance, utilities, property management, taxes, insurance, turnover costs, etc..)

Purchase price: $1,100,00015% down payment, 7% interest rateDuplex: Two 3bed/1bath + den with unpermitted bath/kitchenette in two car garage. 

This nonprofit would leverage government payments and seek additional grants to support the initiative.However, we face a few challenges:1.

@Varun Dalwadi, you must put down at least 20% if this is a non-owner-occupied investment property.

It is up to the servicer whether or not they will report the payments. 

However, from my understanding, it takes a long time to pay down the principle when making mortgage payments.

As for getting less then payment standard calculation, that stands true in theory.

Property Details: SFH 6 beds 2 Bath 2016 sqft - Rented by the room.Purchase: 340,000Amount Financed: 272,000Down Payment: 20% (68,000)Purchase Costs: 12,777Loan Type: 30 yearInterest Rate: 8.75%Rents: 3,300**********************Investment Returns - Year 1Cap Rate (purchase) 8%Cap Rate (Market Value) 7.1%COC 1.8%Return on Equity 1.3%Return on Investment 25.1%Internal Rate of Return 25.1%