Since you don't plan on moving for a while you'll essentially be burning money at a 6.25% rate per year until you move into an area you are able to afford to invest in given the Bay area is insane.

It is in Illinois so wood burning stoves would also be included for heat.

Thanks in Advance:  Bob Burns

I will correct a "fat thumb" typo...

If you put a tenant in there and they are rough on the place then you just have to deal with that extra hassle next year before selling again.Yes you may not be walking away with a fat check like all of the success story flippers will, but you will likely at least be at a break even, PLUS all of the experience you got.

At the very least I'd make sure I had a big, fat, enormous reserve fund as it could take a little while for the property to stabilize.

My daughter has bought lower end rentals in Vegas with mixed results.. basically pretty good.One tenant burned the house about down but with insurance they are coming out smelling like a rose..

When it fell through I realized how I could have been burned by a few variables going south.

but our final bid is lower than that asking auction priceI've read where people got burned because they started work too soon.

Here's your chance to ask that question about rental properties that's been burning inside of you!