@Sundeep AminMaybe I am too conservative, but the idea of renting and then subletting as a vacation rental seems full of issues, the first of which is profitability.If you try to do a long term rental on a furnished place, then you have to turn around and do short term rentals to make enough additional margin to make it worth while and typically, the zoning will not allow you to do that, as most residential areas (or condo HOA by laws) do not allow rentals of less than 30 days.If you decide to rent unfurnished, it can easily cost 10K to 20K to furnish the house, and while you can move the furniture and dishes from house to house, the furnished versus unfurnished premium is usually 500 to 1000 a month, so it could take a year just to break even on furnishing.

If your annual property tax bill is $3,000 and your homeowner’s insurance premium is $1500, your monthly payments are $250 and $125 respectively.Your all-inclusive monthly payment is $1,486.

There are numerous people on BP flipping in the 150k range because their market has an abundance of outdated/cheap houses, a stable mid-level economy with low crime & low unemployment, and a premium of buyers that want updated homes. 

. , the flooring is called premium porcelain. 

*Meant to say 5 months prior to closing(don't see an edit option anywhere).

Hi Shawn,The properties around ASU are great rentals, anyone selling one knows it, and will want a premium price.If you do manage to get one, make sure that you get the parents on the lease, so they are also responsible for any damages.

You would then be paying a premium for the service of someone else doing the hard part of the work and paying closer to retail prices. 

I know this post is long and I will edit later for any mistakes/typos I have made.

Now everything is being calculated off a larger figure, that means your homeowners insurance premium, property taxes and mortgage insurance premiums (both upfront and monthly dues) are higher as well. 

If that is someones business model they are going to charge you a premium for the owner financing.