I'm actually looking at purchasing some land and building a smaller house for myself and renting out the whole place either in the fall or spring for the next academic year. 

Ask if they have any issues that you may be able to address.I treat tenants as customers and have empathy for them - give them some leverage when they fall on hard times - but be firm and let them know that this is your business and you depend on the rent to keep your operation running.There are times when you can supply the tenants with up-grades, Frig, new stove micro wave - with those items supplied you'll be able to increase their rent a little.Treat your tenants with respect - thy are your customers and their rent pays your mortgages and gives you an opportunity for a wonderful cash flow and future retirment.Cheers

You have to plan for when your interest deduction falls below the standard deduction on your income tax return.  

If you rent, then most of the costs of owning fall on the property management company.  

Hopefully someday from the perspective of an investor as well, I've been thinking Troy would be a great place to make some investments and I go there every fall for alumni weekend anywayAlso, I wouldn't have known to look for the FEMA flood zones when buying in Troy but I can tell you I was there when Irene came through and there were quite a few buildings underwater near the river.

I would fall on my sword with the City.

Have you run side-by-side the financing and HELOC (interest) to see what numbers fall out.

I am looking to move into a duplex next fall and am currently in an apartment.

I also fall in the same boat as you.

The thugs moved the operation else wear but not before one guy tried to climb the pole and I have him on tape falling and then he tried to sue me for insurance.