Either buy what you can afford, or stay out of the game till you can afford it.Anyone involved in trainings, mentorships etc on any topic, anywhere, my advice to you is PRESS IN, get closer to your group, sit at the feet of the 'masters' so to speak...then watch what happens to your knowledge, and your business.

However, if you want to press on, here are a couple of ideas:Install a coin-op washer and dryer and use the revenue to reimburse the tenants.

I know for a fact that Chase has an internal condo approval process for all loans being sold/brokered to them. https://selling-guide.fanniemae.com/sel/b7-3-03/master-prope...For FHA, the guidelines are FHA 4000.1.Also, this: https://www.hud.gov/press/press_releases_media_advisories/hu...Long story short, condos are becoming increasingly difficult to finance.

Affordability is about 1:3So yeah on the surface it looks like a big difference, but there's a lot of things not controlled for in the stats- There were a crazy amount of houses built in the years just after the war, so housing stock was easy to come by everywhere;- Homes had nowhere near the kind of features they have now - 2 car garages, dishwashers, OTC microwaves, W/D hookups, high efficiency windows, central heat & air conditioning, etc - all those doodads and niceties drive up the cost of housing;- Fewer mortgages were 30 year, so homeowners had to pay (relatively) higher monthly payments;- Rentals were almost exclusively apartments, so there was more supply for buyers;ETCI think these things tend to be more stories that make for good press but aren't really that grounded in reality overall.

Looking back 15 years later, I should have pressed much harder, the opportunities were too good. 

You are looking for issues with the foundation and any other exterior anomalies like giant trees that could be in the sewer line or pressing against the foundation of the house, evidence of buried tanks, where the septic and leach field is, etc.There are plenty more things to focus on as well, but these four are often neglected by newer out-of-state investors relying on an agent or friend as their boots.What else did I miss?

If the landlord was aware of his past, yet rented to him anyway - any lawyer worth their salt would make a nexus between those two pieces of information and create a liability claim.In addition to the extreme negative press you would get, it also takes time, money and energy to defend a lawsuit you will eventually win.

You can read about it here: https://www.hud.gov/press/pres...

While I'm not an accountant, CPA or attorney, I'm hard pressed to believe that if the mortgage is paid in full from the sales price the wife has to worry about getting a 1099.

If I had it to do again, I would press him for a range, but hindsight 20/20.