Although, there are always some risks (house flattened by earthquake, zombie attacks, etc),
I am not suggesting that being a landlord is the purpose. The rent/own comparison helps evaluate risk of depreciaiton and also serves as a fall-back plan. You are highly unlikely to go wrong on a property that would rent for a couple hundred bucks more than your payment, for a few reasons:
1. Rent-ownership equilibrium tends to put a floor on prices.
2. If you find yourself in a bind, you can always rent it out.
3. Your doctor wife is likely to be able to help afford a mortgage of $1500, even if we institute socialized medicine.
This is a No Brainer (which also tends to keep zombies away, being that they really like to eat brains)
[quote=scaredycat]i think this place would rent for between $1,750 – $2,200 per month. But I might be wrong. I do not want to be a landlord. I want to grow persimmons and raise chickens.[/quote]
