Unless you've done substantial improvements to the building or used a large down payment when buying, it's unlikely this will work.Perhaps your best move is to find a new primary residence that is 2-4 units and repeat the process.

Tenants in lower Classes will have lower credit scores, which means higher chance of defaulting on their lease payments.

Rentals also build equity through tenant payments and appreciation, with profits taxed at lower long-term capital gains rates when sold.

The retaliation claim is completely absurd in a non-payment case, but it has unfortunately delayed the eviction process even further.I’ll look into connecting with local landlord associations and advocacy groups.

They have decent rental markets, and there are options where you could get in with a 20% down payment.

With $250k in cash, you can easily do down payments on 5-6 rental properties here. 

I have been digesting all things Real Estate so right now I am working to lower my DTI while saving at least 6-7% for the Owner Occupant down payment (to include closing cost, etc.).

If it doesn't, can you still make the payments?  

It's not that Stu has tried and failed with this asset class, but he is pointing out that you have very preliminary understanding of investment principles and should look to expand your knowledge before being accountable for OPM. the fact that you're confusing mortgage payments with T&I impound is indicative.

Hi Lina, It’s exciting to hear that you’re looking to invest in a mid-term rental (MTR), and I’d love to help you navigate the financing side of things.Understanding loan options, down payment requirements, interest rates, and how lenders view MTR properties is crucial to setting yourself up for success.