Conventional loans will not allow loans to be closed on properties with bad chipped paint, roof damage, wood rot, pest infestation, moldy carpets, broken windows, torn up bathrooms, etc etc.

Peeling, chipped and looking bad.

I will be using a Civil Engineer but I am curious how much it will cost to run a 2 lane road that has a cul-de-sac at the end with chip and seal road?

We are getting a portfolio loan from a local commercial lender that is centered around Oak Grove and didn't get any of the objections you are facing.

Thanks again for chipping into the discussion, everybody.

Simply follow my advice, prepare, and let the chips fall where they may.

If it's giant oak trees then "Big Oak Estates" and if it's the Blanchard school district then "Blanchard Estates".Then, every time you say the name it's a sales pitch for the property.The word "Estates" on the end makes it seem classy and like a residential subdivision.

Understandable...With Rentals, you get all your income "Tax free" through out the year, as the gov. doesn't touch it. ( example $1500 rent x 12 months, looks like you made 18k )   But then it's time to PROVE that you didn't really profit  18k.. subtract the obvious mortgage, and then factor in repairs, depreciation, and anything else you can do to chip away at this...So maybe your bank account is up $ 200 / month in cashflow.. but not after repairs.. maybe you only made $25... on paper :)

For some tenants, if you supplied them a rental that didn't have any leaks in the roof, they would be improving their situation.When we acquire a property with tenants already in place, we make a list of things we want to improve and then chip away at those over time.

@Keith Fowler call Emily Kurtz at South Oak Title, she’s great and easy to work with.