Who cares if you are “underwater” if the asset is making you cash flow...just don’t sell and you won’t have a problem.Also, the rich might still sell, they just might sell and re-leverage into a larger property.

Take care :)

I am just starting out so I have the time for it, but in a year or two I may want a property management company - but this cuts income significantly, so I'm wondering if the deal is worth it. 

Another thing, and check your state laws if it's allowed or not.. but try offering rent discounted if paid by the first, and make the discount decent ... no one cares about $5, but if it's $50 or $75-- they will!   

Your purchase price would be $352,000 ($2,000 x 24).If you don't end up buying it then they just had you as a tenant for those 2 years, but presumably you've taken better care of the property than most tenants would since you had the option to buy it.

She will take good care of you. 

Life is not going to give you a break because you have 31 kids to take care of!

They'll take care of you ;)

Be careful and good luck!

.$3500 over 10 mos is not peanuts and if you know these people take care of the place the cleaning/turnover costs should be minimal.