I already have a primarily home with a mortgage but I do have over $300,000 in equity in that home.

. $2,500-$2,700 in rent but have a $1,900 mortgage (including current property taxes) plus $100 for insurance, plus a 10% chance of no one renting and another 10% set aside for repairs.After all that I'm in a range of breaking even or making $200 a month with this as a rental.

So the loan officer has no idea what they are doing likely because they have never written a mortgage on a condo. 

When deciding, obviously check online reviews and also understand the difference between custodial solo 401k and checkbook solo 401k. 

Or refi cash out 100%… so I would have ZERO out of pocket… and then rent for $800-$1000… gross… after mortgage and hold backs I was STILL netting $400/ month.with zero out of pocket… And the debt was $50,000.Now….

Lots of good people in the city and in the online community!

Total mortgage with insurance payment is 680 a month. 

I have been told about 60% of the rent will go towards Taxes, vacancy, capx, property management fees, repairs & insurance, and I will be left with 40% to pay off the mortgage or keep as profit.

Everyone is responsible for 100% of the mortgage payment - and yes, that's if there are co-signors.  

Quote from @Sami Gren: HI,I am using a contractor for a full apt gut rehab, I would like to know if anyone has a contractor's contract that I can work off (of course will add or take off accordingly) he is a new contractor, so he doesn't have one,  [I am using him because I have used him for past several years on smaller projects, so I know to trust him.]Thank you You can pull one from online, but I would have an attorney draft it if you have the cash to use that for your deals going forward as it won't be the last time you need it.