But if you roll your equity into your home, it's alternative cost will the your new mortgage %%.So, this way your $195Kwill be working with your new mortgage rate while it could be paid off by your tenants and get sold when market is very high again.Tenants usually complains about everyday problems: A/C doesn't work, toilet clogged, facet is not working.All these cracks etc - it's the owners problem and Tenants seldom worry about that.Bottom line: I'd use $195K in investment property if it gives you more return than new current mortgage rate.But you have to factor PM even if your wife does it for free.If the ROI is less than the rate - sell it and pay less in your mortgage.ps I think using leverage will get you to your goal quicker than paying off all mortgages....but each their own

Otherwise, they're usually doing 0% down or 3% down for the first one or two (two local banks and VA for 0% down or 3% conventional).

@Rick C.In the West Indies people usually remove their furniture from their properties and expose them in the sun.

@Carlos PenaYes, either buyer or seller can "change mind" after signing contract.However, contracts are legally binding so there are consequences if both parties don't agree to the change, usually financial penalties.Check with your local real estate attorney to know what the consequences are with your particular contract and whether it is worth your time and expense to enforce the contract as signed.

It doesn't mean anything.Some properties are not listed to sell AKA not motivated seller and the price is too highSometimes properties listed to get lucky ;) usually the seller is the  listing agentAlso, it might be very slow market and 90 days is not really that much - then ask your realtor to see average DOM on your area.There are plenty of reasons but price might be as well.

 A couple of issues.....No one knows where you are, all cities/counties are different.Your zoning may not allow for a second unit, which this would be.Owner issued permits are usually only for owner occupants, not for rental units.First step, go down to your local zoning/building dept and see if this would be allowed.  

Month by month is easier - give them 30 days notice about changing terms.First, off course, they need to know that there is new property management.I usually put in writing all that as info: new ways of paying rent, your phone number to contact etcThen you watch who is paying late and post 3 days notice on the door.

With a new home, you usually don’t have to pay your first full mortgage payment until after the first full month passes.

When I go this route, I usually research how the property get foreclosured to make sure there is nobody to claim the ownership.Same is  with carry costs: taxes are prorated to the date when the deed is recorded.

Clearly something will need to be completed in the entire house but is there a special way this gets treated for smoke that is different from usual sealing?