We got an FHA loan on it and since my wife is a realtor, we got 3% right back, so we put very minimal down.  3 of the 4 rents equal PITI so we'll live there for a year then move out.  

To keep any new investor as a lender only should help minimize that risk.  

Similarly, my capital is minimal.

In your case you can sell without tax implications so it's sort of a moot point but the goal to shoot for with real estate is to keep letting your investment grow with minimal tax implications for as long as you can.  

The obvious thing to me (and probably to everyone else, so I'm not sure there are as many of these properties as I think) is to buy undervalued properties and sell them, and just do minor things... like painting that I can do myself and that are quick with minimal holding costs to build up cash, and ability to get financing.  

The increase in payment is minimal compared to the 30 yr due to lower rates on the 15 yr.

Oakland has a punitive transfer tax--1.5% of the sales price plus the (minimal) county transfer tax.  

Minimal cash flow for 15 years and then all flow forever, or greater flow for 30 years before you own it outright.Again, without a ton of info I can only use our numbers as a comparison so if you are self-managing, self-maintaining, putting more than 20% down, etc. things may be different.

Isn't our job as REI is to minimize the downs while maximizing the ups? 

@Ugin Rapoport Hey man, hotel condos are a tricky thing (i wouldn't recommend it the people caking are the owners of the whole project and one of there easiest incentives is offering financing themselves to you)So usually due to there desirable locations they are wayyy over priced....on top of that the HOA fees become very heavy if you are not able to rent it out and are subject to rising if the hotel adds amenities or anything of that such and of course not living there (gotta account for vacancy), Secondly the hotel is usually almost ALWAYS selling units (the ones that i've seen in miami and orlando) so when you eventually want to sell you end up competing with them and most likely wont win because customers looking for that type of property aren't in abundance (the fees push most ppl) If you are looking for perhaps at minimal result with next to nothing effort of results of around 2% annually then maybe its alright but other then that....i totally would not encourage (Just my opinion so dont hate me for it lol)