I have purchased many an income property, just looked at another yesterday. This one is a beauty as the downstairs tenant pays the full mortgage amount if I buy it with 20% down... that makes a large upstairs unit pure profit.

If I can get it however for no money down (like a NINJA loan - "no income, no job and no assets."), then I will need to rent out the space above and realize less profit. But who cares, as there is no money out of pocket, just profit.

If I buy it cash it is a great deal as it will pay for itself faster as there are still tax deductions as well as income... if one is disciplined... I look forward to your next post.