I would also consider "private money" from friends and family for your first deal as well - maybe offer 8-10% simple interest and see if anyone would be interested.

Find a non-bank lender or broker who offers bank statements loans - this is literally the situation that these products are meant to tackle.

You can usually find some events by doing a simple google search.

Also, as listed on Redfin it is a "Fee Simple Ownership", even though it's a duplexed condo unit in a 4-unit building.

I would advise against for residential customers, since those units are simple and have straight forward maintenance that can be covered in an annual “tune-up”.

That 24-hour delay cost him a $40,000 deal that was well within his grasp.The lesson here is simple: time kills deals.

Keep it simple and keep your documents ready.

They are literally paying him to work for him! 

To make things simple, let’s consider the following expenses:Rental property taxes: $500Repairs and maintenance costs: $1,000Utilities: $1,200Property management fees: $2,500In this case, the total allowable expenses are $5,200.

Simple, bring on a partner, or borrow it ,