Thanks I own a mortgage company in Florida.

I am also figuring in the high mortgage rates that don't seem to be going anywhere soon.Thank you for any insight that you may have!

You can do that online. 

Here are the details at a high level:Purchase price: 174,000Closing costs: 2,000Down payment: 20%Rental income: 1525Monthly expenses: 487 (insurance + tax)Maintenance: 128 (1% of purchase price)10% vacancy: 150Self-managingI am not sure what interest rate to use to get the monthly mortgage amount.

Just not sure whether (and what if so) there are any impacts to the mortgage/insurance company I need to be aware of, etc....

The bank I am working with would provide a construction loan with 3/8 points higher than the original mortgage to buy the property.

*Hibid.com is online local auctions that you can bit on and then drive to pick up your purchases.

I know if the previous owner is was foreclosed on had a mortgage then that mortgage survives with the property.

What I think Carlos is saying is if U.S. didn't have this mortgage mechanism as it is, say one where "average" mortgage was 15yr at longest, market price would be vastly different. 

The most obvious is that you will be able to offset your mortgage with renting out a few rooms.