I also like to be set higher than most of my competition because I only buy really cool properties that are sought after.

The current tenants are month to month and not interested in buying, and the existing mortgage balance is assumable (3.65%) for qualified buyers.I know it's a great house -- and with the assumable mortgage -- a great buy for someone looking to save with current interest rates sitting as they are. 

I had not thought of that since I am not buying or selling anything.  

Investment Info:Small multi-family (2-4 units) buy & hold investment.

As a CFA you probably know the old quote from Warren Buffett who said something like "buy what you know and understand". 

Do your research and run some numbers, but if you can buy a 4br house, rent out the other three rooms and be left with a very small mortgage payment, you can start saving for the next one and then rinse and repeat every few years. 

Purchase price: $550,000 Cash invested: $145,000 Sale price: $915,000 This was a home run for a long term (5 years) buy & hold investment property (I specialize in this area). - Initial investment of $145K (DP+closing)- It had one tenant for 5 years and 3 months (no turnover), and the tenant paid off the mortgage and expenses in those 5 years.- I spent around $30K to do upgrades before selling.- Sold it for $915K after 5.5 years (received $442K at the closing)- Did 1031 exchange and bought 8 SFH in NE & AL worth of 1.6M (brings $4k/months income now) What made you interested in investing in this type of deal?

So, that would allow you to buy 200-250k. of course, it is hard to find cash flowing properties with 15% down, but most assume you have to put down at least 20% which is not the case.  

If so, they can sell within 2 years and not pay capital gains taxes on the sell of the home.They could take that money and buy multiple rental homes in other areas if they wanted, or use the money to downsize in to a different home while still having money left over.

Buying right is critical as is timing Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?