You don't need $50,000 in your account, but you do need some money, $1,000 makes life much easier.

Since I grew up being around them more than half my life, I've seen a lot.Due to certain market conditions, cities, municipalities and counties operate differently from one another.

Sorry.Here's a real life example of how this went horribly wrong.

I'd much rather be conservative and avoid potential (and costly) pitfalls down the road.While the rule seems to be plain, I'd like to know how it's actually implemented in real life.

There are many pieces to a house that have a finite life and they all have to be considered.

The other part is that I turn 39 on Wednesday, and I am literally starting the second half of my life with nothing and a drastic career change, which will require not only massive amounts of time, but also massive financial commitments.My overall goal with this is to acquire enough property to be able to support myself whilst I attend naturopathic medical school and begin a practice.

Enough said.However, do not end up on the losing end of this potential deal by over paying for this property.Stick to your numbers and put in your bid as if this never happened.And remember, our country was founded on this principle:"We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness."

It's only 20 minutes away from where I have lived my whole life so I know that the town itself doesn't have many attractions, and the schools aren't great, but the property is also just a couple of minutes from the highway and 20 minutes to the nearby city.

If you don't have the two years of tax return history yet as a landlord, then you will have to qualify for the new loan while carrying the PITI of ALL loans in the numerator of your DTI ratio.

But at the end of the day life is so much easier when you don't have to drag someone into court over a civil suit or send letters back and forth between attorneys reminding someone of what's legal and what isn't.