Imagine you rented it out for a month and then missed a payment and rented for another month.

It can help safeguard your personal assets in the event of a lawsuit or liability claim that exceeds the coverage limits of your primary insurance policies.Tenant Acceptance Policy: Implementing a thorough tenant acceptance policy is crucial for selecting reliable tenants who are likely to pay rent on time, maintain the property, and adhere to lease terms.

We do have enough for 20% down payment.

hi from the date you got notice that a payment was proceed how long after did you get your payment?

We could put a down payment but need funding to buy.  

Paid it immediately then sent payment confirmation.

It mainly affects VA buyers and people who dont have enough for down payment, closing costs, and now buyers agent. 

Rents are currently $1,200 per month, I expect to raise them to $1,375 per month when I add a storage container and do exterior fix ups (30k), the monthly payment is $3,660, so $5,500-$3,660=$1,840, so $22,080 cashflow per year.Summary:Utah is an increasingly expensive market.

The cost was a bit more, but my mortgage payments on the condo + condo fees were almost the same as the mortgage on the house and would I rather have the tenant paying the mortgage and condo fees or just the mortgage.

Is it better to renovate the basement of your house and turn it into a legal basement apartment or join a JV and use the money to make a down payment on another property to rent out?