It balanced well.Now I shoot for borrowing while money is available and keeping the rest of the cash from the lower downpayment in reserves.

@Nick Luongo Thanks so much for reaching out- I'll shoot over a few questions I have regarding the Boston neighborhoods market, since I'm sure you have a pretty good pulse having years of experience as an agent here.

Low mid end real estate (bread and butter properties) tends to do ok as people still need housing and are forced to buy or rent and prices rise based on demand and generally keep in line with inflation.Mid high to bottom of high end prices tend to be crushed because these "prestige" properties tend to be bought by people either speculating or trying to keep up with the joneses and they tend to be highly leveraged.The very high end stuff shoots up into stratosphere, but they are bought by a very very select group of people.So besides macro economics, property types (and as such the location) matter as well based on my limited experience.

these are questions that should always be asked before making an offer. you should go out and look at the property talk to them with out making a deal on the spot may shoot around a few numbers.

I hate to be captain obvious here, But the best comp the appraiser had was the last purchase price from August at 77k.I would put the property and conventional mortgage in both of Your names, shooting for a 5 or 7 yr ARM locked in the 3's, with a 30yr am.Then enjoy the cash floooow, and move on to the next adventure.John

I first learned about this site from a member when I was at a get together of Fastlane Forum folks in New Mexico last year.My interests are varied (shooting and Jeeps come to mind) but where real estate is concerned, it's fix and flips, syndication, multi family, and timberland.

They are notoriously difficult with closing extensions for short sales depending on the bank so your ultimatum to the seller might not mean much... bank will just shrug and say too bad... shoot to get them to have the tenant out as soon as possible to avoid this...

You won't see the cap rates members here shoot for.

If they're wrong, shoot them. :0)

Shooting from the hip, it sounds like the back taxes are more than the property is worth.