If I purchased a home locally I’d have to ask well beyond the market rate on rent just to break even.

This deal included a a older home and a mobile home each with a separate septic tank and county water.

If timing permits you can get a tenant into your home that you'd be leaving.If you are going to move into the new home you have a lot of options for better rates and lower down payments.Matt HowardNorthpointe Bank616.552.5730https://www.northpointe.com/home-lending/get-started/matt-ho...https://www.zillow.com/lender-profile/matt%20howard/

The home had the same renters for nearly 20 years at below market rents.

I both personally invest in real estate and help others gets started/expand their portfolios in various Midwest/midsouth markets.What I do with my kids: My wife and I have 2 of our rentals that are on the same street, with a home in between them.

Detroit also has a population nearly 2x that of Cleveland.Meanwhile, the median price of a home in Detroit is ~$95k while Cleveland is ~$160k.

Sometimes hard to find this happy medium in rate sheets, though.Another consideration would be taxes - points are typically treated as interest, so if your tax obligations are high this year vs being higher in the future, then this could also impact buying down now vs paying a little more in interest in future years. 

Hi @JC Wu - typically homes under 60k will need to be cash only.

My short term goal(s) in the next few years are to have 4-5 properties (long term), as well as a multi family home.

Typically, most cities allow for 30 day minimum rentals.