Carrying costs aka holdings costs, such as hard money payments, can be written off in the year that they happen.

With your large down payment they will still be mostly break even, but over time you'll benefit from the crazy appreciation that has been happening consistently in California for a century and the rents WILL eventually catch up. 

So hearing everyone talking about doing cash out refi's to buy more property I did but it came back to bite me in the butt.I bought a rental house back in 2012 and naturally values went up so after a couple years I did a cash out refi and used the gain for the down payment on another rental property. 

The catch is the terms.I'll repay the $85K over 5 years with just a one-time $10K payment this year, 2025 - 2028 it'll be a one time payment of $9,600 each year and in 2029 a balloon payment of $45,600.00. 

It's not large enough to out right buy most properties and then start the brrrr process, but I definitely could use it for down-payments.

Some lenders might let you go with a 15% down payment, making it $15,000.

Should I open a business bank account under my LLC  to make mortgage payments and collect rent even though the property is in my personal name?

.- The owner did provide proof of payment, and rent is confirmed $750, but always a few days late...Unit 2:- 1 BR- There was a language barrier, she didn't speak english, and I think she was afraid to open the door so I didn't get to tour it.

Borrowers have to pay their HOA I am not from Florida either but I believe most states allow the HOA to foreclose for non payment of dues most states give HOA's special foreclosure laws that are stronger than a simple lien in order to give the bank 1st priority otherwise an HOA is a document recorded prior to the first and would hold priority if they didn't sign it or legislate that position away.

And like any investment vehicle, low risk equals low yield.Currently to break even with rent covering just the mortgage payment takes about a 35-40% down payment on an investor loans.