Is that really what other investors have for their mortgage rate?

Then how long would you be willing to wait till the rents catches up with the mortgage?

say you could rent for $1500, or you could get a mortgage for $2800 and collect $1400 in rent, so you have to net pay $1400 toward the mortgage.you house hack.you'd building equity. 

@Henry SimsThe more professional way would be to have Note and Mortgage document drafted by an attorney. 

If they would be open to a private equity lender, who can fund in just a couple of days, PM me. 

Hello everyone, My question is if you bought a duplex with 3.5% down using an FHA loan and you can't find a tenant to live in the other room and at the same time you don't want to be paying the full mortgage, what do you do?

That way I just deposit rents in each individual account and pay the mortgages out of the proper account.

I am now a Private and Hard Money Lender and help clients across the US with rehab fix and flip, DSCR and many other types of loans. 

If its a tax deed foreclosure that may be different as typically in most states you would have to go throught quiet title. but if its a mortgage foreclosure you should be able to get title insurance.

I also want to add that hard money and private lending aren't necessarily the same thing.