As to closing and title costs, each area handles those things differently, I'm not sure what is customary in your region.

One other rationale thought on that would be that the loan for a new primary residence actually isn't that much smaller since the part you're living in now is only 1/3 of the 200K house.I think it would be worth your while to also check with a local/regional bank.  

In fact, Clear Capital predicts that the Midwest will be the fastest appreciating region in the U.S. in 2015.

I am excited to contribute to the forums, learn from all the experienced people in this community and connect with any investors in the Augusta, GA region. 

My name is James Abuan (pronounced as "aw-bwon") and I'm from the great pacific northwest living in Kirkland, Washington.

If I was still living in Cleveland I'd be willing to bet that I could find some properties in the region that would qualify under the "2% rule", but it sure looks unlikely in this area!

And of course if you in the NYC region, hit me up!

every region has their own little "quirk" to them that cannot be assessed with a single calculation.   

Hi John, welcome to the Pacific Northwest.

I'm most familiar with the Fairlawn/Bath region so figure I should check my comfort zone first.