Might be worth taking a closer look.Good luck and let us know how things work out!

My point is that you need to find something that works for you now and gives you an acceptable yield now, with enough wiggle room in that margin so you are not in trouble if something about the deal doesn't work out as you are expecting.  +$315/month is that much better than you are today...assuming you have correctly accounted for all your expenses.

@Dan Vleck That's good news and you got an excellent workout as well. 

Do you only want cash flow (workout agreements) or you don't care if you get the house back (FC, DIL => sale or rental)?

I sometimes wish we still had that option of going 30.So if all goes well in your market, it may work out fine.  

What are the costs of management of this portfolio, real expenses, time, effort required, CDs are pretty much hands off, playing options takes more effort and real estate can be intensive at time to manage.9.

Generally HomePath is pretty straight forward, just a little paper intense to deal with, but your Realtor will deal with that.

I think getting a local attorney would work out best for you. 

You put time in and if it doesn't work out you walk away but gain experience.You are either tearing this stuff down or renting at a very low per sq ft to attract tenants.

Prices are very high here, and demand from other investors is intense; should I look elsewhere for my first deals?