Even in the AM (sober) you've lost me so I'll give the figures and you can do the maths please.
Contract price of prop = 90k
Needed repairs (paid cash) = 10k
Deposit paid = 5k
Est income = 175/wk
Int rate = 5.97%
Being in a provincial city, rate of return is higher than the big cities, but cap gains lower. Because of these returns I can pay P&I and still stay cash-flow +ve. The logic here is so that it won't go -ve with interest rate rises.
Bill
