I built a spreadsheet that calculates payments (excel PMT function) for a range of interest rates and terms and then a second spreadsheet to calculate the balloon after 10 years (excel FV - future value) function. 

Looking forward to meeting you and hope to see you around the site and around town.

I am an out of town investor but happy to answer any questions you have and help run numbers.

I could be running numbers wrong...but in a property that is built in 2008, great condition, and monthly payment of about 500 it seems great that it currently has a tenant paying 950 a month.

Because of this, we know some of the ADU builders in town and can get you their info about ADUs.

Complex was built in the mid-80's.

Jon Ankenbauer I’m going to guess that the mortgage has been paid down over a while now.There should be some equity built up since you are talking about a second mortgage.

We sell those investment properties all of the time and they are very popular for out of town investors.

Only other recourse that's worth it IMO is to see if your town has free legal aid for tenants.

Me and my wife have changed our minds on the home as it's a little far out of town, and the value has risen a considerable amount.My question is, if we manage to sell the home in the first few weeks when we buy it, how easy is it to sell it from a documentation/legal standpoint?