You can just put 5% though the number needs to work as you will need to pay a PMI.1.

Do not give them any money until you check the property and get the keys...also check that any bills tied to the house that they may have been paying are up to date.

I’m assuming the goal is to have your REI Cashflow pay for and keep up with, or even improve your lifestyle, way before you retire.

My wife and I are considering selling our current property and moving into another, but as I’m sure many of you know, those events don’t always line up perfectly to prevent paying for two places at once.I’ve heard rumors about a program that allows the temporary freezing of mortgage payments on properties for sale by owner while they begin paying for other properties.

Are all tenants paying on time?

I want to sell it and use the money to buy a primary residence.I am wondering what the tax implications will be, such as capital gains, paying taxes on items that I have written off/deferred, etc. 

To do well in pricey places like Santa Barbara, use what locals know, look into ways to invest, team up with backers, check out how to pay for things, aim for cheap homes, do deep checks on the market, and get to know folks in the area.

So you start from scratch on the loan, but there are no real estate agents involved on a refi, so you have no commissions to pay them.  

However one thing I didn't anticipate was, while the aged sewer line could easily hand two people living in the property, when my tenants moved in and when the load on the sewer system went to five people, it couldn't keep up.Turns out the line had been damaged over time (orangeburg pipe) and was too narrow, so I had to pay to get it replaced. 

I live in Layton and am fired up to lean int 100%Let's connect if you're near me and like meeting like minded folks.