If this is your primary home, then maybe there's a reason to over pay...school zone, job, security, etc. 

I have traditionally offered good security at a 75% LTV and 15% interest with no points but at this point, I am starting to get more flexible.

A bad tenant can cause you $100,000+ of damage and no amount of security deposit can save you from that.

Through conversation, learned the empty lot next door was also owned and needed to be part of the selling package.

I would love to touch base with you down the road and see if you were able to secure that rent easily.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Purchase price: $20,000 Cash invested: $7,000 Sale price: $57,000 This property was part of a package of homes purchased in March of 2017.

We had set a maximum value we would pay and after a few last minute bids, our maximum price was hit and secured.

Due to the upgrades, I was able to raise the rent and more peace of mind to my tenants security wise.

But if it throws off your debt-to-income ratio too much, you may need to secure additional funds for the down payment.