This is a very bad idea. First off you cannot afford the house unless you are already making $70K per year and have $70,000 in the bank for down-payment.

Secondly - rental prices in Windsor are cheap. You are not going to be able to rent 2-3 rooms for $800 + each just to cover your mortgage costs because in you can rent a whole apartment for about that.

Also houses require a lot of maintenance and repair and the market is tied to how well the city is doing. Windsor is not doing very well. You aren't guaranteed to make money, in fact subletting to a few students for a few years puts a lot of wear and tear on home.

I used this strategy to pay my way through school. However the house I purchased was $67,000 in a city with a severe rental shortage, I also had the down-payment ($14K) and enough income to qualify for a modest $55K mortgage.

After three years - I sold the home at small loss because after being occupied by a pile of late teens/early 20's kids for three years there was a good amount of cosmetic damage.

I don't think your plan is going to result in making any income what so ever. The house is too expensive, the rents are too cheap and besides that the only money you have available is a line of credit...