To me, having one mortgage payment for 2 - 4 houses (basically) always seemed interesting and like something that would give me more bang for my buck. 

If you aren't paying cash and are doing owner occupancy you may be able to use FHA instead of Conventional with a higher down payment. 

It might be payment notices are going to a different address and it is simply overlooked. 

As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify. 

., Purchase Price: $475,000 ($197.9/sq. ft.).Estimated Market Value: $402,000 ($168/sq. ft.).Financing Terms: 2% interest rate, with a 9-year balloon.Unit B Income: $2,049/month (Section 8 tenant through November 2025).Unit A Income Potential: Similar rent or higher; Section 8 cap for the area is $3,234/month.Monthly Loan Payment (P+I): $1,386.Cash Flow Breakdown (if both units are rented at $2,049/month):Gross Rent: $4,098/month.Vacancy (10%): $410/month.Operating Expenses (37.3%): $1,376/month.Net Cash Flow: $943/month.Key QuestionsWould you be comfortable paying an 18% premium for financing at 2%, especially in a market where current mortgage rates are closer to 7%?

Payments $492 (interest, tax, insurance) currently owe $51K.

I still remember the first loan payment coming due and wondering where that money was going to come from!

Be sure to follow all formalities, such as sending via certified mail if required.Transfer Rent Payments: Notify tenants in writing that rent payments should be made to the new property management company moving forward.

But for large multi-family, that amount hardly covers your legal fees for one transaction, let alone down payment, due diligence costs, lender fees, other closing costs, etc.

I have a duplex I have been renting for almost 10 years and want to use the equity in that property to use as a down payment on a storage facility.