An email that gets forwarded to the code enforcer through the city manager's office usually carries a little more weight than if you reach out directly.

I accepted and will close this Friday, and only had $480 in carrying cost.

Keep in mind you need the 25% down and the most co-ops are going to want to see at least two years' of carrying costs (mortgage and maintenance) in liquid assets post close on top (which can also sometimes be gifted). 

If not, then carry on and good luck to you. 

I would carry a blank purchase and sale contract with you.

Get a credit card and carry a small balance and pay on it regularly.

My only concern with real estate, is putting money down on something and carrying a large debt.

This is not a Fix & Flip. 1) One way to look at the Equity Profit: $50,000 Amount she placed in Investment Fund $15,000 Given to Seller for moving $35,000 Remains in Investment Fund To be used for reserves, carrying costs, marketing, closing, etc Here is how I Bought Bought $180,000 Amount Bought for Paid Out $15,000 Gave to Seller for moving Still Owe 2nd $20,000 (Seller carries a Second mortgage to us) Still Owe 1st $145,000 Our amount owing on the property Taking it Subject To So, we still owe $145,000 on the original mortgage and $20,000 to the Seller on a carry back 2nd Owe Total $165,000 for a total of $165,000 still owing Here is how I Sold Sold $235,000 "Sold" (Lease Optioned) Amount to a Tenant Buyer Collected In $20,000 Option/Down payment from Tenant Buyer Owner Carry $215,000 Lease Option to Tenant Buyer So far on the Investment Fund Paid Out $15,000 So, we have paid out $15,000 Collected In $20,000 And Received in $20,000 $35,000 Remains in investment Fund The $20,000 goes into the Fund Fund $55,000 Makes $55,000 still in Fund Profit $5,000 Equity Profit, so far 10.0% Equity ROI , so far Remaining Equity We're Owed $215,000 Amount Tenant Buyer Still Owes Me We Owe $165,000 Our Total Payoff (1st $145K + 2nd $20k) Profit $50,000 Amount Gross Equity 100.0% Equity ROI , remaining In Addition - We make monthly Cash Flow Profit $1,650 Tenant Buyer Monthly Payment $995 Our Monthly Payment $655 Monthly Cash Flow $7,860 Yearly Cash Flow 15.7% Yearly Cash Flow ROI It's a reasonable deal.

It is in the rental agreement that they carry it, as it give me protections and recourse if their pet does extensive damage.

Hutchinson bundling your homes into one "blanket" loan carries some benefits (and draw backs) but the rate is not one of them.