Everyone seemed satisfied but I count this experience as golden in landlording.

The drawbacks are limited luggage and now weight, since the kids are older/bigger.I took some lessons, and even cross country soloed, but never got my license.

My opinion is the only one that counts, but they'll resent me "underpaying" them for their work.When I started out I sometimes allowed it, I learned my lesson the hard way though.

*fingers crossed*

Consider cross collateralizing it with another property.

Now to refinance out of my duplex I believe I have to pay myself market rent to show the income but I will cross that bridge once I finally get all these papers signed correctly.

This could be a great deal, but it's cash flow that counts.

Secondary market will begin at 75% and go down depending on how many loans you have outstanding.Portfolio lenders can go to 80% easily for quality properties and borrowers, they will also increase the down payment required as either aspect slides away from being a quality loan.Rents can be counted after one year with a one year lease, month to month won't fly until you have two years history.If you have a successful RE management history (years in the business) obtaining a portfolio loan along commercial lines the expected rental income can be used to offset payments.The only hard and fast rules are in secondary market loans.

I will thus be forced to buy properties 100% cash from then on until 2 years from now, when I can count my rental income towards new mortgages.

The best part of the story... the girl that won opened her purse FULL OF CASH and started counting it out to the ref.