Owner can live in half and rent out the other half.

Grandma died and left her half to 2 grandchildren the other half was left to grandma's brother in CA.

Here's an example:price $100,000down payment 10%, 10,000Amount financed $90,000Rate 6%Term 30 yearsPayment $539.60 (P&I only, your actual payment may include taxes, insurance, and PMI)payments made 24balance $87,721.41, 87.7% of original priceTo get the balance in this example down below 80%, you would need to make 89 payments, about 7 and a half years.

On average, half the rent you collect will go to expenses.

You might have taken out a 15-year loan to get the loan paid off in half the time, and might even be making extra payments, or perhaps signed up for one of those biweekly loan programs, all to enable you to get rid of the mortgage just as quickly as possible.You do all of these things, of course, for a very basic and deep-rooted reason: because your parents taught you that you should never a have mortgage, and the key to the American Dream is to own your home outright.Yet, a Big 30-Year Mortgage Is BestAlthough your parents’ advice once made sense, today it is completely wrong.

these houses were selling for $450K 2-3 years ago and now they are going for half of that, meanwhile the rents have stayed the same...

I usually try to pay half up front and upon completion, I'll pay the remaining 50%.

All work done by me.Also thinking about installing a half bath in the cellar, have to bust up the floor & waste line anyway.

EDIT------I bought my recent property for less than half its actual value but my banker would only loan me (commercial note) the exact sale price.

So for him overseeing the project and performing half of the labor, he will make appx. $37.50/hr.