My down-payment will satisfy the remaining balance on their current mortgage, which is necessary in this specific case because the bank won't let the owner provide financing without triggering the due-on-sale clause of their agreement.

New construction starts remain still well below historical norms, meanwhile the improving economy keeps driving demand - and prices.

He told me that they require 15% down and would be 4.5% on a 20year term with a 5 year balloon where the remaining balance would be called/due after year 5.

The tenant may remain in possession of the premises for 30 days following the date of the delivery of the notice of termination.

I believe value currently at $190,000Refinanced $126,000 @ 5.25% 8/2010 (23yrs remain)Currently owe: $111,000Total Monthly Payment: 1228.17     Monthly property Tax: $531.59     Mortgage Payment: $696.58Annual Property Insurance: $617Currently also have $30,000 in Home Equity Line of Credit @ 4.25% (will need to be converted to a regular Home Equity Loan soon: estimating $30,000 @ 5.15% for 20yrs and $200/moBegan renting it out 8/2014 for $1250/mo My accountant is depreciating the Structure value of $140,000 ($5090/yr)I’m also depreciating the estimated value of the appliances and carpet at the time at a shorter term (5yrs).

Then the remaining mortgage balance on the new loan would be 52500.

Followed similar discussions in Bigger-Pockets but remain unclear how to use formula to  determine the  portion of  qualified property $500-K tax free.

@Anissa Pearson from San Pedro, CAI have clients, that buy Multi-Family units, and use one unit as their primary home and the remaining units as income properties. 

Hi Joshua Lee Wegner,Licenses to remain in possession can be a little tricky sometimes.

If the smell remains, then I would purchase an ozone machine which will take care of smoke smell.