Much of it depends on their age and their other plans.You can always refinance with a traditional bank at that time or renegotiate the promissory note with the owner at that time.Even if 30 years; the owner still has the option of selling the note.So, you can negotiate what works for both of you.

Buy them from the owner, if you mean the foreclosure auction.If you’re talking about a bank owner REO, you won’t.

A bank may not be hugely interested in lending on them because of their condition, but you should see what they can offer.

Banks look at the last 2 years of income to see if you qualify for a loan, not sure of your income in that time but speak to banks in your area to find out.

Speak to a local bank, they usually look at your DTI and see if you can qualify for a heloc.

You will get change ordered to death if your instructions fail or you forgot something...

If you go all cash or hard money then you could use an LLC.If you're doing rentals and borrowing from a bank, you should do a partnership agreement so that the down payment doesn't appear as a gift.You'll need to weigh your options.

Most banks will work from NOI, but expect you to set aside part of the profits for Cap Ex. 

@Akhil Viz be careful in that zip code - some decent pockets of areas but there you can be on a street where everyone is a meth head or the next is some 40-60 yr old blue collar workers taking care of their homes to more crime ridden areas.Definitely is not an area to bank on any appreciation but you can cash flow if bought right and you get in a decent area to attract decent tenants unless you want to be slum lord.

Assuming your are looking at 2-4 unit buildings, non-owner occupant, I would recommend talking to Gulf Coast Bank.