How much cheaper are the building cost?

So if your rent is less than a mortgage payment + monthly property taxes + homeowner's insurance and PMI (if applicable), you might actually be increasing your purchasing power by renting!

The couple ends up paying two mortgages.

I imagine if they stop paying the mortgage they will have also stopped paying the HOA dues, etc. as well.

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Hi all,I'm trying to wrap my head around what to do with my current primary mortgage. 

I'm hoping that you could take out a mortgage on the property for $50k for the engineering and if you had to sit on the property, you could at least farm it (or rent it out to a farmer) to make enough to cover the loan payments on $50k while you wait for an upswing. 

On that note, if you've paid off your mortgages and own your rental property, it isn't 100% bad.

That would be dependent on the demographics in your area but can result in a cheaper build out plus more marketability options.

As I have done more deals and built trust with my private money people the rates are now much cheaper.