So here are my numbers I've been playing with:2k down, carry 20k for 15yrs @ 5% for 158.16/m So that's 225(50% rule)-158.16=66.84 then x 12=802.08 then /2k= 40% COC4K down, carry 18k for 15@3% for 123.30 225-124.30=100.70*12=1208.4/4000= 30% CPC4k carry 18 for 10yrs @ 3% for 173.81 225-173.81=51.19*12=614.28/4000=15% cCPCDid I figure that right and are those do-able?

This is do-able, but its complex.

Is this doable or even legal to speak to tenants about the property?.

Is that doable for your family’s situation?"

The two key issues that I a trying to work through for my first property purchase are:- Determining the most advantageous way to finance my first property;- Locating a property that will be doable in terms of rehabbing and not be an instant money pit, but still be reasonably priced with room for a decent profit.Renee

Hi Sophia,I like your goals, and I believe they are very doable.

Which will be doable with some minor improvements.

We needed a way to have money coming in each month, and rentals seemed perfect. 10 would provide enough monthly income to meet our budget, 1 per year seemed doable, and Hubby will turn 65 on year 10.We haven't set next year's goals yet, but we do have 4 houses on our "if we can get it at the right price" list. ;-)

He can tell you what is doable, what it will cost, and if he knows his stuff, what makes sense.One other point. 

So it is doable if you have the infrastructure to support it.Unfortunately, it is a business use as it vacation rentals so I think you are stuck with long term tenants (which isn't a bad thing) or trying the room-mate thing.