[quote=FormerSanDiegan] As for 350K and 2K rent (…) With 20% down and a 30-year fixed rate of 4.75%, I come up with a total PITI of $1856. That puts you near break even cash flow if it rents for ~ 2000, depending on if you manage it yourself. [/quote]

FSD: Are you considering the opportunity cost of your down payment? Also, I don’t think you can get a fixed rate below 5% for non-owner occupied real estate. If you have only a one-month vacancy, you are looking at some serious losses. Once in a while you’ll need to change carpets or update appliances (assuming nothing major like a new roof is needed).

Finally, appreciation may take a while to come back: you may need to sell due to an unforeseem event, and then find out that after 15 years of paying P&I, repairs, etc., you sell for no more than what you paid.