Utilizing UBLOC for Buy and Hold

[Wai Fung]

Has anybody ever utilized a UBLOC for buy and hold strategy?

Here are the numbers that I worked out.

House Price $125,000.00
Down (Using UBLOC @ 1.5%) $25,000
Closing Cost $4,500.00

Expenses
Cost of UBLOC @ 1.5% $586.50

"Down $25000 +
Closing Cost $4500 +
UBLOC csot (12% of $80,000) $9600
Total $39100"

PIT 4.0% $769.08
Insurance $100.00

Rent $1,300.00
Cash Flow $(155.58)

I would have to look into buying 4 plexes with better cash flow to justify using the UBLOC otherwise I would bleeding cash each month. Let me know if I am missing anything.

I am new at this so any feedback would be appreciated.