We didn't initially intend to have the house for 5 years, so the ARM products had appeal because of the lower interest rates.

We didn't initially intend to have the house for 5 years, so the ARM products had appeal because of the lower interest rates.

My two cents are as follows...we were tasked by Progress Residential to source and acquire homes for their portfolio in Atlanta but initially they did not want us to manage their homes for the reason mentioned...potential conflict of interest...after about 6 months using other managers with poor results, they came to us and asked us to manage given the fact that they were so pleased with the way we professionally approached the acquisition process. 

Also after the initial 5 years, does it start a new 15 years amortization schedule, or it only has 10 years left to amortize over? 

Initially listed at $285,000 in contract for $272,500 post inspection and prior to flood zone discovery. 

My initial thought was that I'd like to have '5 doors' to buy and hold with the long term goal of supplementing my retirement.

A lot of people forget that any contract can be modified if both parties initial.

Also, see how the points if any are figured in, mine had 1% at initialization and 1% when I refi out.Insurance was a builder policy for 6 months, where all of the money was kept no matter how long it took to switch to a landlord policy.

The bank initially offered the escrow the cost of the tank abandonment, but asked us to switch to a rehab-type loan.

Additionally, If your city does not have their own individual ADU compliance rules signed into law and regulations by Jan 01, 2020 they must default to the state rules with no additional requirements.John, my understanding was similar to yours regarding parking, the property I just purchased in Anaheim with detached garage is less then .5 miles from public transportation, yet my initial ADU report from Hausable states I need one covered parking spot.