This is the amount you'll be making payments on during the financing term.Interest only means the monthly payment you'll make will only include interest, not any principal paydown that would go toward reducing that initial loan balance.

I would like to reduce the term of my tenant’s lease.

3) Did you find the deal through a wholesaler by chance or were you proactively working with them?

Personally I'd keep rents around $1,150 to reduce turnover. 

This historically has produced an outstanding return as evidenced by your equity accumulated with only 5% down. prop 13: you are paying a reduced prop tax rate. 

., and people working from home instead of the office, you can imagine how much they save in reduced accidents

If you feel that the property will reduce your expenses, help you build equity, and fits the criteria of what you want in a home I would go with the offer.

My experience there is that it significantly reduces the applicant pool.

Quick summary - I have a multi-family property in which I invested with another partner. We're both 50/50 and not in an LLC. I am being bought out and will eventually be off the mortgage. I currently still have all of...

I don't think I should count the missed principal payments as cash flow because that is in effect reducing my equity in my property, but what about the interest I would not be paying for those two months?