Buying "off market" is allows negotiated and negotiable.

If you're living in it now, you'll probably be required to have a signed lease in place as well as proof that first month's rent/security deposit were collected in order to get a DSCR loan (they're business purpose loans and don't allow owner occupancy).

I didn’t have the funds readily available due to other projects, but because of the trust we built, he offered me a seller financing deal, allowing me to purchase the property without putting my own cash down.

That will allow the CFPB to investigate your loan and then others through a QC or audit if they feel its a recurring complaint.If you find yourself in need of advice or want to talk about anything related to multifamily rentals purchase or refinance please feel free to reach out. 

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

However as Texas only allows a HELOC on your Primary Residence, I don’t want to lose this facility if I move to a new place (and I want to comply with the rules!).

Lenders will allow you to use 75% of the rental income in a 2-4 unit.

Some people may think it is those with below market rents but i question if this is true as these tenants will now get max allowed rent increases Would they have gotten such large rent increases in the absence of rent control.

Like if the neighborhood already has too many MFH, then they stop allowing it?

But wondered if you were able to flip some houses during your run so that you could buy down the houses you have today and increase your cash flow to allow you to quit.Some great stuff.