They'll know all the local laws and it's likely your best bet for avoiding issues down the road. 

Real estate clubs in your area, easily found on Meetup.com, are your safest bet.

If your first instinct, after getting a home under contract, is to go to an Internet forum to ask what to do next, you are SO far behind what you should know that the deal will blow up in your face.

I might not even tell him I had paid it (but I bet Toyota corporate will send him a letter saying new balance is zero so he will find out anyway).

Realistically, you won't add any value.I bet you can find a better rate.

Otherwise your best bet is to work for a commercial investment and or development firm as an analyst.

I really don’t like to ask these things because the internet makes all these questions accessible.

This is the problem with making predictions - especially ones in print and on the internet.

Considering that $1 of rental income replaces $1.25-1.45 of earned income, I bet this is about equal to what she's making every year.

) - Gross Monthly Operating Income 1,496.25 Monthly Operating Expenses Property Management Fees Repairs and Maintenance 110.00 Real Estate Taxes 333.00 Rental Property Insurance 51.33 Homeowners/Property Association Fees 10.00 Replacement Reserve 110.00 Utilities - - Water and Sewer - Gas and Electricity - Garbage - Cable, Phone, Internet Pest Control 75.00 Accounting and Legal Advertising Monthly Operating Expenses 689.33 Net Operating Income (NOI) Total Annual Operating Income 17,955.00 Total Annual Operating Expense 8,272.00 Annual Net Operating Income 9,683.00 Capitalization Rate and Valuation Desired Capitalization Rate 10.00% Property Valuation (Offer Price) 150,000.00 Actual Purchase Price 154,000.00 Actual Capitalization Rate 6.29% Loan Information Down Payment - Loan Amount 150,000.00 Acquisition Costs and Loan Fees 4,000.00 Length of Mortgage (years) 30 Annual Interest Rate 3.250% Initial Investment 4,000.00 Monthly Mortgage Payment (PI) 652.81 Annual Interest 4,830.53 Annual Principal 3,003.19 Total Annual Debt Service 7,833.71 Cash Flow and ROI Total Monthly Cash Flow (before taxes) 154.11 Total Annual Cash Flow (before taxes) 1,849.29 Cash on Cash Return (ROI) 46.23%  So no money down and the tenants are paying for you.