Lesson two: The Polytech area has a lot of potential but requires careful planning for the scope of work.

We don't get paid unless the loan closes.I would be careful with a lender that charges anything but third-party fees. 

Quote from @Brandon Weis: We have historically had in our leases that renter's insurance is required, but we had been lax on enforcing it because owners didn't really care and not all tenants had it.

I’ll take care of buyer commission.  

I will be very careful with my first investment if I were you, unless you have a rich father or uncle who is willing to finance your mistake.

Marketing, screening, collecting rent, unpaid rent, maintenance, capex, insurance, lawn care, vacancies, turnover costs, inspections, and so much more. 

I have had a couple of long term tenants who struggled to pay rent on time but always paid and took good care of the property so I worked with them. 

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

Who cares about lifetime interest costs, except to the extent you can easily lower them (refinance to a lower interest rate) to increase your cashflow.

Care to tip me?