Haha @Jon Klaus ;) Or maybe the service is "reducing one's rental opportunities".

That would really ease the transition, and also reduce the amount of money you need as a cushion.

If the proposed loan won't debt cover to the lender's satisfaction then more equity is required which will reduce the cash on cash return, all else being equal.

A larger debt is a form of asset protection as it reduces the amount of equity you have and reduces the amount of potential loss.The reasons for having an LLC include, taxation, and asset protection, sometimes those are conflicting goals.And of course there is a cost to each LLC, not only in state & organization fees, but also tax return prep and yearly fees.

I suggest you get the 30 year in the beginning, use those refinancing loan costs to reduce the costs of repairs.

And it reduces the cash flow from the property.

If I were to purchase the property I'd challenge the tax assessment every year (or as often as the law allows) to reduce it over time.

Or, do a modification and reduce the interest.I ran the comps and only shows 3 houses, one pending for $119,900 and the other two sold.

We'd like to acquire another property, and we wouldn't necessarily need both of our incomes to qualify, though if our current property is paid for by both of us, it might reduce our purchasing power.

Having recently resigned from my position as a credit manager, I'm considering real estate investment as an potential career change.I have a BBA and MBA, both in finance, and 20+ years of experience in the energy, technology, and mining sectors doing everything from treasury to financial planning & analysis to M&A integration, which I expect to be helpful in deal analysis.I currently have a fair amount of capital to get started, though some of it has to cover living expenses until I can generate positive cash flow.