Remember your principal reduction and depreciation should be considered benefits in this situation.  

I have a large Akita dog and understand the importance of renting properties that do not have restrictions on breed or weight.  

Here are some rough #sAsking price: 195,000Planned Purchase Price: 170,000 (the rest below is based on this price)75 LTVDown Payment + Closing Costs: 47,600Loan Amount: 127,500Amort Period: 20 yrsInterest Rate 6%Current Rent: 39,420 (owner says that is what he currently collects, I would hike the rates as they are below market and probably why the owner says he stays fullOperating Expenses: 14,107 (Tax, Insurance, utilities, 6% vacancy, 10% maintenance)NOI: 25,303Cash Flow after P&I: 14,351Return on Cash Invested: 30%CAP Rate (Weighted for Leverage): 14%Gross Rent Multiplier: 4.3Debt Service Ratio: 2.3Cash Flow Per Door Per Month: 133% of monthly rent to purchase price 1.9%What do you think?

Probably not applicable in "wrap mortgage" situation.Probably a few more but spit this out between a weight room set.

It's not a permanent 5 point reduction.  

Price points that once required applying for a JUMBO loan (JUMBO typically has higher rates and much stricter qualification requirements), can now use FHA or Conventional conforming financing to purchase.Check out your State and County limits here:Conforming Loan Limits by State and CountyOther big news, FHA just announced today a reduction in the Mortage Insurance premium that goes into effect on January 27th.

.*** With premium savings of $____ per year, are you willing to pay out of pocket for any claim resulting from; 1) Falling Objects2) Weight of Snow, Ice, or Sleet3) Water Damage4) Collapse5) TheftThe 5 "Perils" listed above are coverages excluded on a DP-1, but are covered in a DP-3. 

I knew the laws in Mass were weighted greatly in the tenants favor before I turned my old home into a rental, but I didn't realize I could be penalized so severely for mishandling accounts or bookkeeping errors. 

And of course weigh the weight of the opinion: meaning, only an Atty who feels so strongly about it that he/she would represent that legal opinion in court on your behalf!

This 20% is normally where you make or lose money in my experience and why a PM company if they are a partner are worth their weight.