Houses in the area compared to mine are renting around $1,000 per month, so the cons are my property is in a service drive, no basement, and no central air (no biggie in michigan but being on a service drive and considering car fumes might have to install one) pros are most houses won't be as nice as mine, renovated, nice open layout and 2 car garage.Now to the question, I'm concerned that the master has no bathroom, so the renter will have to go downstairs to use the bathroom.

I have a beginner question.

Maybe I should read the bp beginner's guide again for the third time.

Take a moment to read the Bigger Pockets Ultimate Beginner's Guide to Real Estate Investing as Josh and Brandon did a great job with it.

I'm not sure where the downside is in this deal yet--if there is one.Any comments/suggestions/concerns with this appreciated.

Consider student housing since you are familiar with it, see below.Check out the Start Here page http://www.biggerpockets.com/starthereCheck out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

Very readable (sometimes even funny), comprehensible for beginners yet thorough.

I appriecate the different opinions and concern but I see failure as an opportunity that was given up on and not revisited.

The new laws concerning these deals are now 21 days old, everyone is learning!

Buying with cash does usually give you an advantage to acquire your next property at the best price ahead of other financed offers.If you've owned the paid for unit long enough to be past the seasoning issues some lenders have, your next concern is time.