Purchase price: $273,000 Cash invested: $60,000 Sale price: $375,000 Purchased the property with a "subject to" agreement, did a cosmetic renovation, cleared outstanding condo dues, and resold the property.

We ask simply questions, like were they late, did they have lease violations, outstanding debt and would you lease to the tenant again.

Here are things that would not transfer with a sale:-2.5% interest- prop 13 property tax benefit is saving ~$40/monththese are awesome advantages that are tough to match   In addition you have achieve outstanding return from the appreciation since purchase.On the other hand, you have $300k of equity which places the LTV at ~65%.  

You will need to provide an LE to determine how much your total closing costs are and that your outstanding payoffs are.

Fix the outstanding maintenance issues. 3.

@Will GastonThis Thread is OUTSTANDING!!

Fortunately the appreciation has produced outstanding overall returns.  

Here are a couple of SEC 8 specific criteria...1) If their court records or pay stubs show any record of garnishments, be careful because SEC 8 ignore garnishments and the applicant will have trouble paying their portion, just like any other tenant would.2) If you see an outstanding landlord judgment, call the caseworker to ask when the tenant first was accepted into the program.  

They have been outstanding compared to the other two I had.

We put 5% down using an FHA loan and currently have an outstanding balance of 450,063.We have a PMI payment of about 300.00 per month.