Have had my NRAS unit in Newstead since last December. It came already tenanted so this hasn’t been an issue for me. Looks like it will be positive geared once the NRAS payment comes through once I’ve put in my tax return. For me this has been the key issue – basically the NRAS payment is payed in arrears. If you can cope with the shortfall until this comes in then no problem. One other issue which should be noted was the limited number of banks willing to finance. I went with RESIMAC their rates were better than my PPOR so was pretty happy with that. All in all I’m happy.