I did a 15 year on an investment property - most will say do 30 and pay extra, its really a personal decision - if you are financially healthy and have very little risk with the extra payment you get a lower rate so go 20 years, but just recognize that equity is typically trapped in the property.

This coverage is typically optional and usually capped at $10,000 or $15,000 so you should double check that if you haven't already.

I have all the documentation needed to show that he gets zero deposit back and still owes an extra $1500. 

If you only wanted to hold the note for 10 years, you could make very large extra payments on your amortization loan.

Knowing the market is not just about sq footage but what is in that extra space.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

I mean, yeah, the numbers work and it makes me like an extra $651 a month. 

The cons of section 8 is that you have to pass the annual CMHA inspection and do all the repairs required and usually it does require more turnover when the tenants leave.

We usually use a combination of Airdna and our own comps to figure out if a property will work better as an STR or LTR.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?