You learn about how your 3% down payment is now making you 700 bucks a month ( or whatever ever it is you will most likely be cash flowing to some degree ).

I've heard of those guys charging 30-40% gross rents (compared to 8-10% for long term rental PM) to take the burden off these kind of "investors" ... granted, it is not likely as passive as selling on payments, but you have zero capital at risk ...

You have to make monthly payments.

You will save a ton of money and should be able to do this loan with no points and no pre payment penalty.

Hi @Varinder Kumar Don't assume the market rent, double check with a realtor if you haven't already.And if you do pull out the equity from your current rental, don't forget to account for the monthly payments as well. 

Examples: Being told I have to wait for your financing to approve prior to payment, but never having discussed this prior to commencement of work.

I have $40k saved up for the down payment.

The condo association's attorney sent a certified letter demanding payment of what they paid for the wining bid when they did the foreclosure for the condo assessments. 

Pros are your interest rates are lower than a commercial mortgage, there are more people that can buy it on the back end and your down payment will be slightly less.

You are able to get into this home for zero money down as you have a VA loan and your mortgage payment is only $1,000/month.