These are the only units that currently do not pay utilities, which amounts to about $250 per month per unit.

I paid cash, but borrowed 30k from a family member to cover some extra costs and renovation, the HOA fee is $135, and I pay my family member $500 a month until the 30k is paid off.

When we purchased our third home, we did not qualify for the rate as a second home and had to pay the rate as an investment.

So what exactly did we pay for?

I ended up with the goal of living in the area paying less than what I would pay for rent ($1700) while building equity on a property.

The idea would be to sell the lots to pay down on the short term mortgage until the house got fixed entirely.

So, you PAY them EXTRA for that.

I recently read in a book that suggested I should open a dual checking and savings account, and take the security deposits from my future tenants and store them in the savings account, then use the checking to pay the mortgage or maintenance fees.

How much is he paying you monthly to use your land?

I would be willing to pay the gap as a down payment and assume the loan at 3.875%.2) I agree!