Randy,I will be interested to see what other responses you get.I guess the basics would be as a 'con' is that you would then need to worry about 'cash flow' compared to having it free and clear.The 'pro' would be that you could leverage those funds more progressively.

But I managed to position myself with a few non rent controlled condos, and having those in this city is basically like printing money.

I had the same concept of investing for the start out, living in a 4plex for one year while renting the other units out and then doing it again with another 4plex all under a FHA loan but know I'm working towards Wholesaling and making quicker cash to fund my Long Term Investing Goals.

We basically called everyone in the areas I was interested in investing in.

If they then tell you about extraordinary circumstances you can decide if you want to accept it or not.Paying bills and being responsible is a basic life skill and I don't have time to deal with people that can't function on their own and need me to babysit them.

Its a very basic policy but will give you coverage for fire, lightening, wind, and hail.

I assume in the absence of HOA, you are basically left working out a deal with your neighbors if a common area is in need of maintenance or repair (roof, common walls, deck, porch, fences, driveway, etc.).

We just do a basic prelim seaech to see what liens are present.

Is there a basic set of questions I should ask them?

Assuming they are month to month, you could start a new agreement the following month to cover the additional cost of the unit at say $100 extra lot rent.Funny, I basically recommended the same thing on your other post.