You will lose your shirt on this. 204k mortgage is $975 per month pi. 1% for taxes- $2400 or $200 per month.

Suppose the tenant loses his job? 

Each person has to have something to lose.  

Usually your only option is to lose money somehow. 

All of this gives me more faith to move forward on these types of setups.

I have a personal trading account with little over 30k but I’m very conservative with it and typically when I profit it’s only about 100-500$ a trade or a few thousand a year, but I rarely ever lose money.

For example, if the tenant just packs up and moves tomorrow, you can continue holding him responsible for rent and utilities until a replacement tent is found, but you are obligated to make a good faith effort to find a replacement tenant as soon as possible.

I have 12 frustrated buyers at all levels, who are losing out on offers.

Either way, my biggest advice is to no lose your mind overthinking it.

What is to come is a lot of people who may lose their homes and enter the rental market.