<prompt> Human: Graduating this May with a business degree. I have 65k total 55k cash, 10k in mutual funds. I will get a job in June that pays 60k. I will be living in my parents house so should be able to save around 35k of my salary. Im thinking of buying a 350,000 town home 35k down in June. I would live at my parents and pay the mortgage with the money I get from renting it out. In the mean time, I will make back all the money that I spent on the down payment from my job and living at home. I live in Northern Virginia, so the housing market is pretty expensive, as with rent prices. Any advice or holes in my thinking would be greatly appreciated.Assistant: You cant afford a 350k town home on a 60k salary and youre kidding yourself if you think rent will cover the mortgage. Youre also not going to get approved for a loan on a rental property without 20 down.Human: Mortgage would be about 1,900, rent would be atleast 2,200. Northern Virginia housing market.  <response>: HOA? Trash, Sewege, etc? Rent covers more than just the mortgage. Youre also underestimating the mortgage there. No way PITI is less than 2k with PMI. 