(I super simplified this not taking into account reduced interest from accelerated pay down)Example 1:Mortgage 150k (paid down additional 50k) and 50k needed for next downpayment.Monthly mortgage payment $1000 (not including taxes insurance etc)Cash left after 2nd purchase $0Example 2:Mortgage 200k, 50K needed for downpayment, 50k in reservesMonthly mortgage payment $1000 (not including taxes insurance etc)Cash left after 2nd purchase $50kWhich example looks safer?

This new tax was opposed by may Springs homeowners who need additional income in order to afford to live here.

My agent thought I was crazy to ask such huge discount and thought the deal was dead. 

are you interesting in purchasing it (at a discount, since you said it needs a ton of work) from the current owner?

Additionally, I saw you didn't have anything on there for CapX, is that because you plan to fix everything with your $15k repair budget?

I went ahead and gave them $100 discount on next months rent for "lost food and troubles".

My question is, do I need flood insurance in addition to my normal home insurance?  

I'm trying to get a solid number so I can account for the additional insurance on my analysis.

No additional penalty fee will be required.Tenant Requested:The Tenant will provide written and proper notice as stated above. 0-3 Months: There is a penalty fee of one (1) month’s rent.3-6 Months: There is a penalty fee of two (2) month’s rent.6-9 Months: There is a penalty fee of four (4) month’s rent.

This is in addition to the search e-mail agents in Northern NJ which are almost always coming with price change on lower side.