Today, an 8x8 is not really functional, IMO. :)

You may not count pay from a new part time job if they have no history of part time income or child support being received on a 20 year old college student may drop off at 21, so that income is not expected to continue and it would not be counted.The amounts available to these students probably come with strings attached, most likely their grades must be acceptable, if they end up on probation funds could be at risk.

The idea of interest is not really coming into play here since interest is paid with principal as a function of amortization.

I will go by on my way to work and check on them and check on them after work (sometimes at lunch), but generally the people that I work with have my cell and call me if there is a problem.I haven't see my insurance agent in a few years, I have an electrician I have used for years, and same with a plumber,,,they aren't the cheapest, but they are honest and I trust their judgement, if they have an issue at a property they just call me.Most of us you have to work full time to be able to continue to qualify for loans,,,I have discussed cutting back on my fulll time schedule in 2014 to spend more time with my rentals, and possible a flip or two.andy

You will have continuing ed requirements annually.

"Only seven of the top 100 markets continue to be ranked as 'speculative.'"

With FHA loans you might become ineligable by moving out and not continuing to maintain the property.

Keep putting money aside while you're looking for your first deal and continue to build your reserves.

See if it makes sense to continue this bid.

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