When accelerated your reviews are completed in  business 10 days which adds up especially since you rarely obtain a billing statement without at least one round of comments and normally multiple are required.

Good afternoon fellow investors,I just closed on my first rental property, which consists of a main house with 3 attached smaller units (efficiencies) - this is very normal in this area- , everything is on one meter.The previous owner used to live in the main house and therefore all utilities were included in the smaller units's rent payments.

@Andrew CosmeYou should close just as if it was a normal sale and get a title company to create the loan docs, get title insurance and sell you the property.I strongly recommend you go through a title company and do not do a closing that was based on docs found online etc.

The numbers are normalized to the ARV and the math doesn’t care.Lastly, if you are not borrowing your costs, or can somehow avoid sales commissions, then of course you can pay more, and you can’t use this rule of thumb.

If this is something you are trying to unload to free up some capital or time, then it may just be worth figuring how much furniture you have, assigning a cost, then see how long it would take at the normal cashflow for that furniture to pay for itself and start making the new owner money.

One thing that might be causing an issue is that the house has a cesspool (normal for this area) that's less than 100 feet from the well, so due to FHA standards we can't sell to FHA buyers, just buyers with conventional financing or cash. 

Problem is theres slim to none investors that are going to allow you to get into a property with zero skin in the game. 

The first lawyer handles anything that comes up normally in the course of business and often operates on his/her time as opposed to being the fastest.

I am thinking why would a seller sell as is when he can sell normal and get a higher price?

So when I showed her my plan, she pushed back since this was outside of our normal household practices.