Financing a rental with 15 or 30 yr mtg?
It's my first rental property, can afford both 15 yr and 30 yr (with the appropriate down payment) financing. At 15 yr, I anticipate the property will be slightly cash-flow positive, with 30 yr, there's a lot more cash flow obviously. The property is around 200k and I don't anticipate there will be a lot of appreciation in the near future (3-5 years - the time frame I anticipate holding it). The money will otherwise be sitting in a money market account...