For a long time I’ve been wanting to rent out a duplex or even a retirement 2-Bdrm/1-Bath via Section 8 renters.
If I plan to hold this property at least, say, 10 years, would I want an interest-only loan… conventional loan… fixed rate… or some other loan being as this is a rental property.
I’ve been renting out three other properties, but they were trailers on a small lot and had to go with non-prime banks since financing a 1974 trailer is not even considered by larger banks. I just sold one of them since I want to get out of non-appreciating property and into “stick-built” homes or duplex.
Any idea what’s the best loan for this? Thanks.