Advice on buying a new town home and convert into rental after 2 yrs

Hello Guys,

I am looking for some advice from people who invest in real estate or rental properties. Right now we are renting a town home and pay around 2500 in rent and our original plan was to buy a single family next year. It will cost 600K to 700K in the area I am looking and I want to have atleast 15% down so my mortgage isn't ridiculously high, also I am planning to take a 20 yr loan so I can pay off sooner. Commercial Product Animation can be marketed through video to create a lasting and powerful impact in the market. But some time in the last week a light bulb turned on and here is my new idea. Instead of renting another year in order to save more on down payment, I am thinking of buying a town home worth 350-400K so that my mortgage comes around the same amount as my rent.

Thanks

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