Offer your thoughts or opinion on the input financial query or topic using your financial background.

First time investing in real-estate, looks decent?
Congratulations, you are in great shape financially at a very young age.  Great income, nice equity in a home, and mostly debt free.   It seems like you are looking at taking out a loan of 400K, and to do so you will have to put your own home at risk as you do not have the 80K cash for a down payment.  Correct?  It also looks like after 2.1K per year without regard to taxes, maintenance, bad tenants, or vacancies.  As such this will likely be a negative cash flow situation.  I would say you should plan on a 912/month cost.  Are you okay with that?  While your income can probably cover this, no problem, is that your objective to have this property have a negative return for the next 10-15 years or so? For me, this is a no.  Way too much risk for a negative cash flow. It is hard to talk to the upside as you did not give any profit predictions and I am unsure of the market.   Why would you risk jeopardizing your great financial situation with a "hail mary" attempt to make money?  Slow down, you will get there.  Save for a few years so there is no need to tap your home's equity to make a down payment.  It would really bother me to owe 600K on a 121K salary (75K+20K+26K).