But if the op needs more yield, hes got to take on more risk.

Both lies that are prosecutable.I'd love to see a scumbag like this get jail time, but OP never said that the tenant applied for rent assistance.

But the OP wasn't talking about school districts where there are grades K to 12; he is talking locations where colleges and universities have football teams that get high rankings.

Steven:  Unfortunately, it's not that magical in Ontario, otherwise the OP probably would not have posted.In Ontario when you arrive at the end of a term lease (or an annual periodic), the lease can continue as a periodic monthly lease.  

The OP wants to rent an illegal unit above market price.

Saw Cleveland get mentioned as a possible landing spot for the OP.

Not meant as a dig at the OP.

In OP's case, apparently whoever prepared the deed didn't include it, which happens often.

But if you suddenly have to move, you'll be used to that expense.And finally, as I see your numbers:Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $152.99Taxes $95.00Sewer and Water $-Trash $-Heat/Utilities $-HOA $-Cap Ex and Ops $150.00Insurance $132.50Mgmt Fee $62.50Vacancy $62.50Total Expenses $655.49Revenue $625.00Cashflow/month $(30.49)Cashflow/year $(365.93)Cash on Cash Return -2.44%

Todd, really guessing that this thread was started out of a sense of urgency to post something and the OP couldn't or didn't give much thought to the negative reflection on his integrity or intelligence, I can't help thinking he knows better but just wanted to post about getting the rent checks.