It is not a bad idea to keep debt if it allows one to have lots of back up cash.

If you're renting, then you're subject to that monthly turbulence, and your cash flow from rentals might not keep up to cover that difference. 

But they felt they had to market a low rate to "keep up with the Joneses".

For the driving for dollars strategy, keep following up long term.$1K isn't a lot once you factor in list building, dialer, mailers, etc, but should be enough to get you started.

There are cat owners who take precautions, like putting waterproof barriers under litter boxes, keep cats out of closets, etc., but those I’ve met are all owners, not tenants.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Make sure you get a "Release Fee" on each property; this is an amount that is to be paid to release a property as collateral in the event you need to sell, or if you have an insurance loss that insurance proceeds will be applied to the subject property and not to the whole loan keeping you stuck with an encumbered damaged property, remember they don't make construction loans as a second and the blanket loan won't subordinate (usually) to another lender, it could get messy, so have a release fee stated and understand how payments will be applied.A line of credit is not a blanket mortgage but a line of credit can use other collateral, different animal and it may or may not fit you needs.

If you think this is a loan you will keep a while you could consider using the extra seller assist to buy down the rate. 

We put down large down payments and keep a beefy emergency fund. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!