bdub,It's not optional. You must do better on future deals if you are to keep investing (or unless you're already rich). Good Luck,Mike
Morningnewsman,No, the expenses would not be less. Mike
Right now I'm struggling with the decision to use my current home's equity to make a purchase, or to wait until I have sufficient cash saved for the down payment.
Henry,You're certainly not saying that the only expenses are the condo fees and taxes...are you?The property you mentioned certainly does not have positive cash flow if it is mortgaged. It might be a good deal if the owner sells it, but it is a TERRIBLE rental.Mike