There are few ways around this, including a job transfer of more than 50 or 100 miles (I can't remember exactly).You say you want to live in one side, it doesn't sound like you have any sneaky plans, but I wanted to share that it is mortgage fraud, which is a felony, if you say you're going to owner occupy but then don't.

Your total expenses should be around 50% of the gross rent not included debt service.

I consider it to be one of the single biggest red flags in a potential customer.

(After all, it has been three months and the market is red hot and appreciating, and they are owed $200k and counting on the mortgage!).

One person spoke about maybe including a car with the unit!

My clients know they are paying a fully disclosed 5% narkup which includes coordination of services, etc....

still have debt (including mortgage), but would love to start learning how to get ready for retirement.

That's 3 hot water heater, 3 roofs, 3 heating/cooling systems, 3 of everything... including 3 crappy tenants all somewhere far away. 

I mean red ink saying " hey I loved the dress you were wearing after you came out of the shower...OK OK OK.. maybe that is a leeeel bit exaggerated.. but my point remains.Just say what you need to say.

We're estimating the total cost of the project to be $350,000 which includes acquisition, rehab, and holding costs.