“just make sure you don’t overpay for the house; your monthly payment with 97 – 100% financing, after the write off, should be close to what the property would rent for…”
There’s the rub. Depending on where you want to live there is little to no chance at all that you will finance 97% of the home and your payment will match the rent. If you are going to set that as a parameter then you more then likely will be waiting a long long time at best.
