By the way, if you it rent out, I think you should be prepared to lose money on it for a while. One, the rental price is still declining in the valley. Two, I just don’t believe a property can be called cashflow positive if the rent just covers PITI. You have to factor in vacancy, management fees and maintenance costs (of course, as TG points out, it probably does not need major maintenance in a few years). But that’s probably just a few thousands a year, I myself don’t mind losing a few grands a year on investment if I have a decent job. Eventually inflation will kick in. 30 years from now, rents will be much higher and you won’t have the mortgage anymore.
