Here is what I meant on the comparison you used' Option 1 option 2 $100,000 Money spent $90,000 $1500 Rent $1800 $750 Operational expenses $900 $200,000 10 YR value $90,000 Why would anyone want to spend 10K less and lose $110,000 in the 10 yrs?

I was 3 yrs into some of them.

The place has 13 yrs of a 15 yr loan left on it.

They have a home that they bought 30+ yrs ago.

Would it be better to finance the property for 15 yrs at 2.75% or for 30 yrs at 4.25%?

I always ask for 3 yrs income and expense statements and you can also ask for a copy of the same yrs tax form filed for the property.

Since our mortgage terms (regardless of the amortization) are seldom longer than 5-yrs {and never longer than 7-10 years), there is always a balloon payment at the end of each term.

I'll share all the financials and before/after photos once we get it rehabbed and rented.Assets: Good roof, new windows, new (<3 yrs) HVAC, decent kitchen, high ceilings, good floor plan, good location.Liabilities: All flooring needs replaced, HVAC needs cleaned(run w/o filter,) leaky tub/shower has ruined a couple of walls, some DIY work needs to be torn out & redone(minor) ivy has overgrown one outside wall, needs some siding & fascia repair & new front door, filthy throughout.We have a crew ready to tear out the carpets, clean out the trash, and repair the fascia on Monday.

I did that for 12 yrs with Wells Fargo!!

If you are applying for a OO loan you should be good to go assuming the past couple of yrs you kept your credit in good standards.