I wish I could better verbalize what is going on in North Dakota because it is unique.

Areas are not war zones, they are a mix of rentals and owner occupied.Financing is typically a 5 year ARM which is a risk, but i do 20-25% down and average a 20 yr repayment schedule focusing on smaller mortgage balances first.Property management companies in my area quote about 10% for management plus 50% one month's rent for placement.

Even if the property never appreciates, you will have your million dollars.The key to sleeping well while you are in debt is knowing that you can repay the debt.

If it's real estate, get the business degree, because it will repay itself 10 fold.

This is a unique business in that you actually get to choose who you are doing business with!

Then again, someone can state one purpose when booking, but then come to find out, the real purpose was something completely different.Could it work, Oh I believe it could, no doubt.What we have is a unique property that I'm sure would have the potential to become a successful and sought after rental.What would it take to market the property properly, that I can't say.

I am getting conflicting advice (from RE attorneys) on how to structure the ownership of this deal. I would greatly appreciate any advice you pros can offer (I understand it's not legal advice.)

Here's the situation:...

When do I repay the full credit?

If the house you're considering is a unique property, an appraiser will have a tough time determining a value, too.

I may be in a unique area, but a major factor I use now in my evaluations I coined "market vectoring".