Me and few friends are thinking about buying a couple houses around our old stomping ground. Now, I have a few questions for those in the knows:
1) How % would we expect to pay for downpayment on a mortgate?
2) What kind of taxes are we expected to pay?
3) Should we form a corporation?
We found a house that is about 1 mile from campus. Will that be too far. It is only a few blocks from the Elmwood Strip (a long stretch of coffee houses, bars, restaurants, etc.)
Here is the pic of the house we are looking at:
It is a two unit house with the agent asking for $289,999. We are trying to get a mortgage for around $350,000 so we can renovate the house.