Im not a fan of seller financing unless that property is free and clear and the seller is offering reasonable terms NOT on money they have borrowed. just too many people get into this type of thing without understanding the whole picture, like title being moved into the buyer's name, due on sale clauses... etc. etc. also, just because its a very commonly overlooked guideline which makes financing on 3's and 4's a little challenging: FHA requires the property to self-sustain its own PITIMI by the rents.

Hi,I'm considering a purchase of a 1br/1ba condo on Amelia Island (Long distance rental).

I assume it would also decrease the demand for these buildings, making them challenging to sell, which leads me to my second thought.I have been seeing a consistent pattern on where these assets have been on the market for long periods of time.

We are accepting term sheets for a bride from Construction to Perm.

Purchase price: $189,000 Cash invested: $40,000 Mid-term rental property in a college town.

I haven't bought a deal or anything I'm still saving up, I'm at 25k I'll hopefully be ready to buy in the next three years, otherwise the city I'm buying in is Barrie which is generally a great appreciation market, I've got two brothers Chris owns two rental properties and Ryan just bought his first partnering up with my brother chrises second deal, so I might partner up for my first deal I don't know yet tho depends on what my brothers want to do.when shopping properties I do remember from the book you shouldn't buy properties based off cap rates but im wondering at the beginning do you first skim this information say the property is listed at a 6% cap rates which is common in the Barrie market would I then would go walk the property and see if things are viably ok, once I believe it's resdy for a professional inspection I'll get information about deferred maintenances mainly capex based off what I need to repier I'll be walking the property with the professional and I guess he'll give me a rough cost of How much everything that is needed and when I need to get the work done due dates, also I don't know how to calculate how much I should set aside in monthly terms after I get the required information from the inspector I'll be doing this for the first time, if the pure cash flow is incheck  I believe usually NOI is usually around 60% including appreciation and mortgage income andone going deferred maintenances around 35-40%, now I'm ready to make an offer?

I'm looking at it long term and will not need the equity anytime soon.  

How long for your spouse or partner?  

The land banker, the long term landlord, the neighbor that wants to expand their home, or the horse owning owner occupant with no other options?  

In the long run it would save you $.