Unless new companies create replacement jobs, the only remaining positions will be lower-paying service sector jobs.

If it pays for itself, it provides you with a "free" place to live during the off-season.

I am the type of person that is normally looking to save a money to increase my investing so the thought of paying someone to do my taxes when we could do them ourselves didn't make sense. 

My experience in Massachusetts, where it took nearly a year to evict a non-paying tenant, has made me more selective about the locations I invest in.I am looking forward to learning and sharing insights with this community! 

When you draw from the equity, you are "borrowing" it from the bank and have to pay interest.If you borrow against the equity at 7% interest and then loan it out at 15% interest, you are earning a positive 8%. 

Regarding your other questions:  - If the going value is $260/SF, why would you pay more than that?  

Keep in mind of the I/O(payments/period) and game plan on how fast you'd like to pay it down. 

@Aaron Bard- plenty of  lenders  offer  DCSR loans ...contact a  few  for  quotes ...also - dont  pay  any  lenders  at the beginning of the process 

If it takes you two months two find a tenant willing to pay $1,700, then you'll still basically break even in the long run - the net to you is the same. 

Yes, the government pays the Section 8 rent timely, but more and more tenants are having to pay a portion of their rent.