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[quote=Anonymous]Bought a little place in NWDC in 2008 for myself. Never had a problem renting it out and maintenance guys in the building will keep it running. Small things are covered by HOA fees, bigger things I pay for. Even though the place was in need of updating when I bought it, I haven't done it yet. Only bought new appliances.
I paid $162k in 2007. It's worth ca $185 now. My PITI is high because I took out a 15 year loan. I've had to pay extra $500 every month, but the equity grows almost $1000 a month at the moment. As I see it, the $500 becomes $1000.
Taxes on rent? I don't really feel it or see it. I still have the new home-buyer program money coming out of it.
5 years to go on mortgage, maintenance for last 4 years was $350- shower needed to be fixed.
The way we are going to make this rental work is that we are moving into it and leave in there cheaply while saving up money for college for a child. Once it's paid off, it's like living in great neighborhood for $500 a month. 
Once it's paid off ROI is ca 4% when paid off. I'd have more money it I sold it and invested the money, but we might need a cheap place to live in as I stated.[/quote]

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