If I understand you both correctly, it sounds like the best for me now is to rent it for at least a year or so, then possibly sell the third year.

I hope you're correct on the electric change.

Now that is $1200 for each unit on the first deal and $1150 for each unit on the second deal is that correct?

I believe your statement stems from your personal bias in that you mke money setting these up for clients, correct?

A mortgage broker told me a few days ago that on a NOO property (non owner occupied) most banks require 20-25% down.Thats correct!

Take Care, That is correct.

A $60k investment does not have $1400 in PITI.Second, if the total rents are $1200 and you buy at $60k, you have obtained the 2% rule which will gurantee cash flow if managed correctly.

If I remember correctly you are going off to the military soon.

This is not entirely correct.

John is correct, if they accept $10, then you just cut them a check and proceed accordingly.Now I come from the school of putting down a large chunk for earnest money to show that I am serious and not playing games.There are enough contingencies that can be written to protect your money, and if I want the deal, I want the deal.I know many people will disagree with me on this, but that is just my personal preference.