I am thinking the following:This would be a wrap around mortgage as I still owe $165k on it.Sale Price $245k (market price)10% down ($24,500)10% Interest 30 year (please tell me if thats a bad idea)Monthly payment based on 30 yr ($1930/mo + tax and insurance) = $2448/moPlease let me know if i left any pertinent information out.Any sleuths out there can check it out. 🤓 (1032 E Tucker St Fort Worth, TX 76104)

After all, I paid county taxes based on that.Or, if we were mandated to use the acquisition cost (195K), shouldn’t we apply the same percentage to it (as in 78% of the purchase price)? 

Based on what I see we'll get more like 3-4% this year on single family in most areas.   

TBH i think your best bet would be to have that 10% - 15% 'jr. debt' be from cash-out on another property, if it's an option.

On the Columbia river.. for me it was to much work for the money and too much capital tied up since we had zero debt..

I have a healthy income and have built a solid financial base for my age.

So If I understand this I would be looking at base rate +4.125 then whatever additional rate the lender is adding on, minus points to buy the rate down? 

You’d have to look all the way to Nevada to have no state income tax, lower property taxes and insurance, no weather related issues and a young property base.

For example, if you want credit scores above 600 but you accept a 580 once, you can never in the future decline someone with a credit score between 580 and 600.The gray areas…I like a credit score above 600, I like my tenants not to have bankruptcyI like my tenants not to have a lot of debt (such that payments impact the Gross = 3X number)I like my tenants to have a history of paying on time Here is a scenario:  Tenant “X” gets past all the instant declines.

@Caroline Knight I am a local lender based in Chicago and I have helped hundreds of Veterans with their VA loan and house hacking.