@David de Luna

Additionally, this property is 7 minutes from the Wisconsin-Illinois border.

Delaware is an hour away from Ewing, NJ and has a property tax rate of 0.56%, the 6th-lowest in the nation. 

@Greg De Sciscio - congratulations on starting down the path of real estate investing, and most importantly for narrowing your focus on one specific area.

Second, refi out of the reverse mortgage and get a standard 30 year fixed mortgage, rates are at or close to record lows and most reverse mortgages in my opinion are bad, bordering taking advantage of the elderly in some cases.

So set it aside or invest it in a stock fund (if you know stocks like I do) or a down payment for another property.When market direction is heading down; I tend to de leverage.

Del Rio is a small town on the Mexico border whose primary source of economy is the nearby Air Force base.

I am evaluating a property in Renton closer to the Seattle border (close to Lake Washington), and have a question about the rental potential and quality of tenants in that area.

Here is how it breaks down: 3% is mortgage pay down (de-leverageing, will increase over time as the principal to interest ratio slides) and another 3% is appreciation (aka as inflation, could be potentially more - we have seen between 5% and 7% in Milwaukee over the last years).

I know in Delaware there's a few recourses, one being the tenant can in some circumstances immediately terminate, without penalty, the agreement.