.$300k mortgage at 7.25% (30-year): $2,046$300k mortgage at 7.6% (40-year): $1,996Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.

Once we lowered the price to $1 less than everyone in town we filled right up.

If the loan amount you are looking for is small relative to the value of the first and the second property combined, they are very well secured on a LTV%; ask for a 1% point lower rate.If you don't want to Cross Collateralize, do you have any CD's or MM you can transfer to this bank as collateral. 

Since your dad is a contractor with access to affordable labor, the renovation costs could be lower than average.

All else being equal, lower mortgage rates reduce the cost of ownership and, thereby, allow more people to afford to buy.

There are some zip codes where you can indeed get above market rent with S8 (even after deducting utility allowance), but some where they are lower.

Guaranteed others are fine with a lower elevation, but I do not have water run over my foundation inside.

In a market like this where properties are sitting a bit longer, buyer demand is kind of stagnant, many appraisals have been coming in lower than anticipated.

It's a more affordable market and lower property taxes, so you may actually have a chance to cash flow.

The guy who owns it, owns it outright and is open to a cash offer for lower than what he was going to put it on the market for.