I say go for it just screen the tenants extra thoroughly I'd really aim for a low key tenant.

You should charge extra for the parking spaces, and make them private.Looks like the average unit there runs about $700/mo, so yeah, I'm say you're substantially under market.  

Plus, as long as they aren't making any extra principle payments then the single amortization schedule can be used for the entire life of the loan.

I am moving out next month into my own home and I am going to need the extra income so i feel like i should get started in investing.

Has anybody ever heard of something like this, he also said it is a 50 year loan that can be paid off much sooner he was describing paying more every month, the extra payment after three years we can either have that money back or we can use it to pay the loan down and he was explaining the resin they do this is to keep money in the account like this because they want to make sure the loan payment can get made in order to make this a  very good performing note that they can sell if they want to.

I'm so thrilled to read that my post has assisted someone.

. :) I believe I can stay diciplined enough to make extra payments without having to refinance.

. :) I believe I can stay diciplined enough to make extra payments without having to refinance.

If it cost you an extra $300 and you don't have to hear from your tenant at 3am because the heater isn't working, it's worth it to me.   

I would not miss out on the extra $178 per month.