Within a couple of months I now own a property that the bank appraised for 90k over the price I bought it for.After taxes, insurance, and misc costs, I'm still making enough in rent to cover the mortgage with a couple of hundred left over.

The answer to your question is yes you have to buy enough to create enough positive cash flow to cover all of your expenses.

You could also just as "easily" cut the rent down to cover just the expenses.

I also cover southern NH.

However, I don't mind giving my opinion if I feel that it may counterbalance what I (admittedly my opinion) feel to be false.Not being able to cover a few years of negative NOI is simply silly.

I'm just thinking out loud here.I'm assuming that as long as a sufficient percentage of the rent covers the mortgage, taxes and insurance, then this wouldn't hurt my chances of acquiring a second mortgage for the purchase of a property in Florida.

This topic has been covered extensively.

Now I understand that this topic has probably been covered, but I would just like to bring it up in order to hear from other new members with knowledge in financing and help me with it.I am interested in buying condo in a very nice are where property values are steadily rising along with rents.

The wholesaler has already offered to cover my appraisal.I am also wondering where this property will end up.

Should I pull a few extra thousand out of the refinance and hold it to cover like the mortgage when its not rented or any unforeseen repairs?