A lot of times the board is bound by declarations and/or resolutions and will be required to 'follow the process'.

Her current mortgage balance is $314k.I told her to take the $14k @ 8%, and leave her existing mortgage in place.Here is the math you do in order to determine the average finance charge per dollar of debt.( [ rate1 * balance1 ] + [ rate2 * balance2 ] + [ rateN * balanceN ] ) / TotalOfAllBalancesIn her case, she proudly declared to me that she is sitting pretty at 3.625%.

So picking up a rental in Feb and trying to use that income later that year won't work.Yes, if you rent something in October, you have to declare that income.  

I haven't signed anything yet, I was going over the purchase and sales agreement today and there is a section that is essentially a contingency for condo documents: I have 10 days to review the condo declaration, bylaws, rules and regulations, and insurance policy, and if i don't like anything I can cancel and get my deposit back.

Update on this post...I officially pulled out of the deal this morning after the HOA (even after allowing them an additional week to produce more records) failed to provide the full condo Declaration & Bylaws (just a couple of Amendments).

Building those "muscles" of being investor take time but don't be discouraged as everyone's ramp up time is different.If you are truly lost then perhaps the best use of your time might be in finding an excellent property manager to handle everything on your behalf for at least a year.

In other words, they got the health care they needed by using credit, and then didn't pay for it by declaring bankruptcy.

The trim, interior doors, hardware, cabinets, roofing and windows are at a steep discount because they are all canceled orders from people who declared bankruptcy and didn't pay.

These platforms essentially just need investors to declare that they are accredited investors prior to logging in and actually finding deals.I am personally very excited about the concept and am working on launching a platform specifically focusing on Colorado and the Midwest.

The sub2 agreements I use are:The Purchase And Sale Agreement - buying the property subject to all loans.Seller's Due-On-Sale Acknowledgment - CYA re: Due on SaleQuit Claim Deed To Trustee Deed Into A Land Trust - I use Land TrustsAuthorization To Release Mortgage Information - Loan is not in your name, so you need this.Limited Power Of Attorney - helps if there is a problem with communication down the road.Add your Trustee as additionally insured to Insurance policyLetter declaring any remaining escrow balance to be credited towards the loan balance at the time of payoffI hope that helps.