I am willing to pay 20-30% down but borrowing at 7% to buy a property with 6% Cap rate does not sounds right.

As it enables you to live in one unit of a property while renting out others to pay your housing bills, house hacking is an excellent strategy—especially for first-time homebuyers.

Unless you're paying cash, something to consider.

@Brady D'Hont keep a backup key in a lock box on site for the schlage encode.

We did a walk through and did not smell anything 2 days ago. so afterthe complaint we said we could go there and inspect.tenant started getting really angry and complaining about other things and how much rent they pay and we are greedy.

The bottom line is that he tries to convince you that you can get rich by convincing prospective lease- purchase buyers to pay $8-$10k for the right to sign a lease option contract. 

If you don’t use 20% down, then you pay a monthly fee into your mortgage payment.

This step formalizes the transfer of rights from you to the new buyer.It's crucial to ensure that all parties are aware of and agree to the assignment process before proceeding.Closing:At the closing, the new buyer typically pays the purchase price outlined in the original purchase agreement directly to the seller.Simultaneously, the new buyer pays the assignment fee (your profit) to you, as specified in the assignment agreement.The closing may involve a title company or attorney to facilitate the transfer of ownership and ensure all legal requirements are met.

Just had a vacancy near Wash Park where the previous renters had been there for a few years and were paying $2,200.

Is it easy to rent and they pay on time?