I could renegotiate with the seller to reduce the price through an addendum to the contract but is there a problem with doing that after I already have my contract signed?

The rent is $950...it was reduced from being priced a little over $1000.

Let's use the 50% rule.The house can rent for $900 realistically.That is $450/mo in profits.Mortgage and interest come out to about $350/moOur down payment is about $15,000 after CC.Basically that comes out to an 8% return on the down payment, with principle being paid down, and not factoring appreciation.My question still stands...Why is the owner willing to take a reduced income from 8% interest payments, as opposed to collecting rent.A couple other points just came up in my head:1.

If your taxes reduce by 600, then you divide 600 by 12 months = 50.

They want to recover as much as possible and reduce their loss as much as possible.

You and your sister have gotten used to free or reduced rent and spent your rent money on other things.

If you purchase with cash, you're reducing your returns.2) If you do find a lender (they do exist) it will be at a low LTV and a high rate.

I support service dogs for the blind, handicapped, and so on... but I've seen some for anxiety and similar.

Obviously this benefit is reduced now with the lower interest rates, but people are still doing it for the sign up rewards or to save money on higher priced debt like high rate credit cards or helocs.A few links.http://en.wikipedia.org/wiki/App-o-ramaThe grail of the app-o-rama peepshttp://www.fatwallet.com/forums/finance/632935/

Should you pay the price when they get the benefit of leverage versus a cash buyer that doesn't have interest expenses reducing their "profit"?