Something has to get better in that market as the regulations are too confining and essentially up to interpretation by the city explore you engage with.

One property I am exploring is being offered around $14k asking price, but total debt is nearly $80k.

Readers should seek professional advice.

I'd only add to get a professional inspection done with a very thorough team.

Readers should seek professional advice.

The second page is a page for the doctor or professional stating what the tenant is requesting and giving them a little info as to why we the landlord are asking for it. the 3rd page is the ASR with simple yes-no questions. the 4th page is the approval or denial with what information was considered as well as contact information if you want to allow the 2nd review if a larger company.  

Along with driving for dollars, you might explore networking with local property managers—they often know distressed properties or landlords looking to sell.

In neighborhood it is very important to present your self to the home owner next to you, this helps a lot to prevent misunderstandings. also this shows your professionalism.

Seriously though, if you haven't already get your self a solid real estate-focused tax professional in your corner.

This doesn't come cheap--these folks were making high six to seven figures depending on volume.We focused on lending to professional real estate investors--so our customers were frequent repeat borrowers.