Debt is the best tool you've ever had available to you. the old school way of thinking is what keeps us in the wheel. keeps us poor, paycheck to paycheck. 

In general, the school board has the right to get involved if the reduction in property value is greater than $50k.

Ah, gotta love it when the school district does that.

It's like that special bond you form with a teacher in school that the other kids didn't have....or maybe with a family friend, or someone you look up to.   

@Chris SeveneyLots of other red flagsWebsite looks like it is “out of a box”Jim Griffin claims to be faculty member of UT Austin School of Business.

Looking at this property for a long term rental, possibly a BRRRR if I could refinance out after repairsAsking price: $85kRehab needed: $25kARV: $130kSingle family bungalow home in a c+ neighborhood (good schools, low crime)Cash flow with using a 20yr commercial loan like I want (20% down, low closing costs) would be around $150-250/month after repairs and capex. 

We have no debt, no school loans, both employed of course with a pretty good combined income.

Personally, having graduated 35 years ago from the Midwest I feel like the schools are horrible.

Details:Goal is to Owner Occupy Location: Type A *very close to great schools, downtown walkable locationHouse: 4 Plex 8 beds and 4 bathsSq Ft: 3,548Price: $425,000Mortgage: 20% down 30 year conventional Current Rents: 790, 985, 945, 910 per-month  *These seem low for this area and for the condition of the unitsOccupancy: 1 will be open for new owner to occupyInsurance: $180 per-monthProperty Tax: $415 per-monthAnnual Maintenance: $800Water, sewer, garbage, electric: all paid for by current tenants Cap Ex: $280 per-monthVacancy: $280 per-monthProperty Mgmt: $345 per-monthThe property has had many Cap X improvements over the past 6 years including, new roof, windows, refinished hard wood floors, paint, foundation work, plumbing, electric... 

Typically you buy for a bigger home due to expanded family, closer to work, closer to school.