I don't know how you invest in anything long term that has decreasing demand.

I would envision things would still be strong through the winter as supply decreases but demand is still existing - and this is with most of the oil rigs stacked up... wait till the price of oil comes back next summer.  

It decreases my initial risk because I don't owe anyone money if everything goes wrong.

What I read about the all-in-one loan is that the line amount is not due back after 10 years but that the amount you can borrow gets decreased by 1/20th in the 11th yr and then 1/19th the next year and so on until the line is down to $0 by year 30.

Hello @Nicholas Foy,Waiting to buy a property only makes sense if interest rates and/or property prices decrease significantly, leading to a significant decrease in your acquisition cost and debt service.Interest RatesThe Fed last increased the interest rate by 0.25%.

Having vacancy for a period of time will also decrease your return as will capital expenditures so hopefully the $1K is good enough to cover your costs.As others said, this may not be the best investment but only you can decide that and what your minimum target return will be.  

The only addition I would add is to take pictures of any of the evidence to support your intention to hold the house for investment property just in case you find yourself in a position of having to sell the house fairly early after the transaction because of a unforeseeable change in circumstances.

The home was originally listed for $275,000 in July 2016, but after not getting any offers for a month, the seller decreased the price to $250,000.

Buffalo is a fluid market with some places getting hot, overpriced, plateauing, and then decreasing or getting more realistic.

And I buy low so that even if I had to decrease my rent per month $25 or $50 per month I'll still come out ahead.I'm not completely leveraged -- I have a mixture of free and clear, 10 year mortgages, and 30 year mortgages, and one on a 30 year getting paid as if it's a 20 year.