While that is not counting closing costs or principle payments.

You do not have the safety of principle as when you have a first TD on an actual asset.

Only way I know of to correctly comp a house in our area is to apply appraisal standards/principles to the data from the MLS.

For any economic, beneficial transaction the principle fundamentals of economics must be present, at least 3 of the 4, land, labor, capital and entrepreneurship.

Thank you all for some very interesting posts, but maybe we're losing sight of the proposition. 

This will give us time to bring up the rents, pay down some principle and get the property rolled up with our other properties under a blanket commercial loan.It does take money to get going, however, it doesn't always have to be your money.  

I'm more of a out of sight out of mind type.

It's the same principle as doing business with family and close friends...don't do it...just my opinion !

I was approached about this concept from a classmate of mine wo was formerly incarcerated and have given it some serious consideration especially since its fallen within my investing principles/core convictions.

Hind sight and all that.