PLus ZERO % financing.. if you do not have use for the extra money a month  LIke bills or something I would continue to pay this down you can own it free and clear pretty quick with zero interest.. and when its free and clear you have your self one great asset and all the cash flow.

Also thanks for the tip on watching out for that extra service fee.

Account for extra maint?

The local economy may underperform or if it does well then there may end up being extra supply in the market that keeps a lid on prices.

With these entities, any profit earned from the rental activity is “passed through” to the owner or owners’ individual tax returns and they pay tax on it at their individual income tax rates.Thanks.

Having an extra $60-70k in the bank would put me in a better position to jump on a good deal though.

If they have the same layout and kept the small bedroom/bathroom, you probably should not dump a bunch of extra money into changing the layout.If you make it a 2-bedroom home, it'll be appraised as such (regardless of how your township views it), and you could end up not getting a lot (or any) money out of this when you refinance.What do the nearby rental ads look like?

We added recess lighting, got the laundry inside the house, converted the extra room into a gym and also painted the whole house including the tiles in the bathroom (since me and my girlfriend were experts in painting from all the experience we had from the back house).

still having a holding spot for your real estate money that earns more interest is good.

Whenever we've made exceptions and approved ppl with lower credit with an extra security deposit (or two), problems have been more likely to arise.