Also, one thing that somewhat concerns me is that I'm trying to find average rental price for the building but I can't seem to find much except this one ad for a studio that shows up everywhere (on all the rental sites).

I recently moved to a mortgage company, Ace Mortgage, and they introduced me to a product I was unfamiliar with.

Even with that said, it is easy for people to get mortgages these days- there are so many loan products and the job market is very strong.

Take Out from the equation recent yearly average appreciation of real estate in the short-mid term.

The first floor tenant was paying next to nothing and the second floor tenant was also paying below the average and the utilities were covered by me.

If you are lucky, you may even have a little more, because the 50% expense number averages in excessive damage done by tenants, lawsuits, evictions, etc, which may not happen right away (although they can have a BIG impact when they do occur).The bottom line is that you'll survive this mistake, you just need to learn to do it right in the future.

It shows you how the average person can do it and what's involved.

i love how the average home owner thinks of their personal home as an asset and they all talk about the "interest" they "write off" at the end of the year.

PM costs for a single property average $1,100 a year, per unit.

This offers better flexibility in terms of ltv and rates/cost as compared to a true no doc.Of course these loans are for properties that are in at least average habitable condition.